Looking to balance out your exposure to NEE? The ETFs below have the lowest correlation with NEE — they tend to move on their own, which can help reduce risk when NEE drops. The stock ideas table highlights individual companies that behave independently from NEE.
Best Diversifiers for NEE
274 ETFs have low correlation with NEE (below 0.3), 27 of which are negatively correlated. The least correlated is YieldMax NVDA Option Income Strategy ETF (NVDY) (Derivative Income) with a 1Y correlation of -0.14, roughly unchanged from -0.07 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax NVDA Option Income Strategy ETF | -0.14 | -0.07 | — | 52 | Derivative Income, Options Trading | NEE vs NVDY | |
| REX FANG & Innovation Equity Premium Income ETF | -0.07 | — | — | 54 | Technology Equities | NEE vs FEPI | |
| iShares U.S. Technology ETF | -0.06 | -0.00 | 0.18 | 75 | Technology Equities | NEE vs IYW | |
| Fidelity MSCI Information Technology Index ETF | -0.05 | 0.01 | 0.19 | 77 | Technology Equities | NEE vs FTEC | |
| ProShares Ultra Semiconductors | -0.05 | -0.03 | 0.11 | 90 | Leveraged Equities, Semiconductors | NEE vs USD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NEE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NEE and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.12, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.12 | -0.07 | 0.08 | 78 | Technology | |
| CrowdStrike Holdings, Inc. | -0.10 | -0.10 | 0.06 | 70 | Technology | |
| AppLovin Corporation | -0.10 | 0.00 | 0.11 | 59 | Technology | |
| Fortinet, Inc. | -0.10 | -0.02 | 0.15 | 66 | Technology | |
| Credo Technology Group Holding Ltd | -0.10 | -0.04 | — | 85 | Technology |
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