Looking to balance out your exposure to NAD? The ETFs below have historically moved differently from NAD, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for NAD
6 ETFs have low correlation with NAD (below 0.3), 2 of which are negatively correlated. The least correlated is Alerian MLP ETF (AMLP) (MLPs) with a 1Y correlation of -0.08, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Alerian MLP ETF | -0.08 | 0.09 | 0.14 | 57 | MLPs | NAD vs AMLP | |
| iShares 0-3 Month Treasury Bond ETF | -0.07 | 0.03 | 0.04 | 100 | Ultrashort Bond | NAD vs SGOV | |
| Schwab U.S. Dividend Equity ETF | 0.15 | 0.26 | 0.25 | 95 | Dividend | NAD vs SCHD | |
| Global X NASDAQ 100 Covered Call ETF | 0.21 | 0.21 | 0.22 | 83 | Nasdaq-100, Derivative Income | NAD vs QYLD | |
| Global X S&P 500 Covered Call ETF | 0.23 | 0.22 | 0.22 | 92 | Derivative Income, S&P 500 | NAD vs XYLD |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NAD, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.11, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.11 | 0.10 | 0.13 | 88 | Energy | |
| Antero Midstream Corporation | -0.02 | 0.10 | 0.13 | 74 | Energy | |
| Berkshire Hathaway Inc. | -0.01 | 0.11 | 0.12 | 67 | Financial Services | |
| Enbridge Inc. | 0.02 | 0.19 | 0.22 | 78 | Energy | |
| Lithia Motors, Inc. | 0.11 | 0.21 | 0.19 | 67 | Consumer Cyclical |
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