Looking to balance out your exposure to NCDL? The ETFs below have the lowest correlation with NCDL — they tend to move on their own, which can help reduce risk when NCDL drops. The stock ideas table highlights individual companies that behave independently from NCDL.
Best Diversifiers for NCDL
0 ETFs have low correlation with NCDL (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X S&P 500 Covered Call ETF | 0.33 | — | — | 84 | Derivative Income, S&P 500 | NCDL vs XYLD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NCDL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NCDL and solid risk/return profiles. The least correlated is Trinity Capital Inc. (TRIN) (Financial Services) with a 1Y correlation of 0.56, up from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Trinity Capital Inc. | 0.56 | 0.45 | 0.45 | 83 | Financial Services | |
| Capital Southwest Corporation | 0.62 | 0.50 | 0.50 | 78 | Financial Services |
Build a portfolio that complements NCDL
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