Looking to balance out your exposure to NBIX? The ETFs below have historically moved differently from NBIX, 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 NBIX
8 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 -0.05, roughly unchanged from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.05 | -0.05 | -0.02 | 100 | Ultrashort Bond | NBIX vs SGOV | |
| iShares 0-5 Year TIPS Bond ETF | -0.04 | -0.03 | 0.02 | 93 | Inflation-Protected Bonds | NBIX vs STIP | |
| Vanguard Tax-Exempt Bond ETF | 0.08 | 0.08 | 0.08 | 74 | Municipal Bonds | NBIX vs VTEB | |
| Vanguard Total International Stock ETF | 0.19 | 0.24 | 0.25 | 71 | Global Equities | NBIX vs VXUS | |
| Vanguard Total World Stock ETF | 0.23 | 0.29 | 0.30 | 70 | Global Equities | NBIX vs VT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NBIX, 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 Dominion Energy, Inc. (D) (Utilities) with a 1Y correlation of -0.13, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Dominion Energy, Inc. | -0.13 | 0.01 | 0.07 | 79 | Utilities | |
| Chevron Corporation | -0.13 | 0.02 | 0.09 | 80 | Energy | |
| Innovex International, Inc | -0.05 | 0.05 | 0.11 | 86 | Energy | |
| Verizon Communications Inc. | -0.04 | 0.02 | 0.10 | 66 | Communication Services | |
| Energy Transfer LP | 0.01 | 0.07 | 0.13 | 81 | Energy |
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