Looking to balance out your exposure to NBR? The ETFs below have historically moved differently from NBR, 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 NBR
1 ETFs have low correlation with NBR (below 0.3), 0 of which are negatively correlated. The least correlated is iShares MSCI Spain ETF (EWP) (Europe Equities) with a 1Y correlation of 0.11, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI Spain ETF | 0.11 | 0.16 | 0.27 | 82 | Europe Equities | NBR vs EWP | |
| MicroSectors U.S. Big Oil Index 3X Leveraged ETN | 0.56 | — | — | 53 | Leveraged Equities | NBR vs NRGU | |
| State Street Energy Select Sector SPDR ETF | 0.60 | 0.65 | 0.71 | 61 | Energy Equities | NBR vs XLE |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NBR, 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 Apple Inc (AAPL) (Technology) with a 1Y correlation of -0.07, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | -0.07 | 0.06 | 0.15 | 90 | Technology | |
| ChipMOS TECHNOLOGIES INC. | -0.04 | 0.13 | 0.17 | 93 | Technology | |
| Jazz Pharmaceuticals plc | -0.03 | 0.13 | 0.18 | 98 | Healthcare | |
| Clear Secure, Inc. | -0.01 | 0.12 | 0.18 | 85 | Technology | |
| Eton Pharmaceuticals Inc | -0.00 | 0.08 | 0.13 | 96 | Healthcare |
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