Looking to balance out your exposure to NBIX? The ETFs below have the lowest correlation with NBIX — they tend to move on their own, which can help reduce risk when NBIX drops. The stock ideas table highlights individual companies that behave independently from NBIX.
Best Diversifiers for NBIX
7 ETFs have low correlation with NBIX (below 0.3), 2 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.09, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.09 | -0.05 | -0.02 | 100 | Ultrashort Bond | NBIX vs SGOV | |
| iShares 0-5 Year TIPS Bond ETF | -0.06 | -0.03 | 0.02 | 85 | Inflation-Protected Bonds | NBIX vs STIP | |
| Vanguard Tax-Exempt Bond ETF | 0.06 | 0.08 | 0.07 | 72 | Municipal Bonds | NBIX vs VTEB | |
| Vanguard Total International Stock ETF | 0.24 | 0.25 | 0.25 | 55 | Global Equities | NBIX vs VXUS | |
| State Street SPDR S&P 500 ETF | 0.28 | 0.29 | 0.31 | 59 | S&P 500 | NBIX vs SPY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NBIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NBIX and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.11, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.11 | 0.04 | 0.10 | 70 | Energy | |
| Verizon Communications Inc. | -0.04 | 0.02 | 0.10 | 66 | Communication Services | |
| Osisko Gold Royalties Ltd | -0.03 | 0.02 | 0.08 | 58 | Basic Materials | |
| Energy Transfer LP | -0.00 | 0.08 | 0.14 | 72 | Energy | |
| The Travelers Companies, Inc. | -0.00 | 0.12 | 0.17 | 74 | Financial Services |
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