Looking to balance out your exposure to NBR? The ETFs below have the lowest correlation with NBR — they tend to move on their own, which can help reduce risk when NBR drops. The stock ideas table highlights individual companies that behave independently from NBR.
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 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI Spain ETF | 0.11 | 0.17 | 0.28 | 80 | Europe Equities | NBR vs EWP | |
| MicroSectors U.S. Big Oil Index 3X Leveraged ETN | 0.54 | 0.61 | 0.61 | 55 | Leveraged Equities | NBR vs NRGU | |
| State Street Energy Select Sector SPDR ETF | 0.56 | 0.65 | 0.71 | 59 | Energy Equities | NBR vs XLE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NBR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NBR and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of -0.04, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | -0.04 | 0.07 | 0.15 | 93 | Technology | |
| Jazz Pharmaceuticals plc | -0.04 | 0.13 | 0.18 | 97 | Healthcare | |
| Eton Pharmaceuticals Inc | 0.00 | 0.08 | 0.14 | 94 | Healthcare | |
| Digital Turbine, Inc. | 0.01 | 0.18 | 0.25 | 69 | Technology | |
| Clear Secure, Inc. | 0.06 | 0.13 | 0.19 | 87 | Technology |
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