Looking to balance out your exposure to NAK? The ETFs below have the lowest correlation with NAK — they tend to move on their own, which can help reduce risk when NAK drops. The stock ideas table highlights individual companies that behave independently from NAK.
Best Diversifiers for NAK
2 ETFs have low correlation with NAK (below 0.3), 1 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.09, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.09 | 0.04 | 0.13 | 63 | Energy Equities | NAK vs XLE | |
| Vanguard FTSE Emerging Markets ETF | 0.27 | 0.24 | 0.27 | 56 | Emerging Markets Equities | NAK vs VWO | |
| Global X Lithium & Battery Tech ETF | 0.31 | 0.20 | 0.24 | 94 | Commodity Producers Equities | NAK vs LIT |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NAK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NAK and solid risk/return profiles. The least correlated is Plains All American Pipeline, L.P. (PAA) (Energy) with a 1Y correlation of -0.19, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Plains All American Pipeline, L.P. | -0.19 | -0.02 | 0.09 | 87 | Energy | |
| Energy Transfer LP | -0.09 | 0.04 | 0.12 | 69 | Energy | |
| Enterprise Products Partners L.P. | -0.02 | 0.04 | 0.13 | 85 | Energy | |
| BP p.l.c. | -0.00 | 0.06 | 0.15 | 87 | Energy | |
| Halliburton Company | 0.01 | 0.06 | 0.15 | 94 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements NAK
Add NAK to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with NAK