Looking to balance out your exposure to NDSN? The ETFs below have the lowest correlation with NDSN — they tend to move on their own, which can help reduce risk when NDSN drops. The stock ideas table highlights individual companies that behave independently from NDSN.
Best Diversifiers for NDSN
0 ETFs have low correlation with NDSN (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.36, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.36 | 0.41 | 0.53 | 74 | Nasdaq-100 | NDSN vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.48 | 0.55 | 0.64 | 74 | S&P 500 | NDSN vs SPY | |
| Schwab U.S. Dividend Equity ETF | 0.62 | 0.68 | 0.70 | 85 | Dividend | NDSN vs SCHD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NDSN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NDSN and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.12, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.12 | 0.10 | 0.18 | 73 | Consumer Defensive | |
| Canadian Utilities Limited | -0.04 | 0.09 | 0.15 | 91 | Utilities | |
| The Williams Companies, Inc. | 0.00 | 0.15 | 0.26 | 71 | Energy | |
| Coterra Energy Inc. | 0.01 | 0.18 | 0.23 | 80 | Energy | |
| EOG Resources, Inc. | 0.06 | 0.20 | 0.22 | 71 | Energy |
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