Looking to balance out your exposure to NEE? The ETFs below have historically moved differently from NEE, 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 NEE
290 ETFs have low correlation with NEE (below 0.3), 35 of which are negatively correlated. The least correlated is State Street SPDR Bloomberg Investment Grade Floating Rate ETF (FLRN) (Ultrashort Bond) with a 1Y correlation of -0.10, down from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR Bloomberg Investment Grade Float... | -0.10 | -0.02 | 0.04 | 99 | Ultrashort Bond, Investment Grade Bonds | NEE vs FLRN | |
| Invesco Senior Loan ETF | -0.09 | 0.11 | 0.24 | 54 | Bank Loan | NEE vs BKLN | |
| iShares U.S. Technology ETF | -0.08 | -0.02 | 0.17 | 58 | Technology Equities | NEE vs IYW | |
| iShares Expanded Tech Sector ETF | -0.07 | -0.02 | 0.17 | 60 | Technology Equities | NEE vs IGM | |
| First Trust NASDAQ-100 Technology Sector Index Fun... | -0.06 | -0.01 | 0.16 | 67 | Nasdaq-100, Technology Equities | NEE vs QTEC |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NEE, 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 Qualys, Inc. (QLYS) (Technology) with a 1Y correlation of -0.16, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Qualys, Inc. | -0.16 | -0.00 | 0.15 | 54 | Technology | |
| CrowdStrike Holdings, Inc. | -0.14 | -0.11 | 0.05 | 83 | Technology | |
| Fortinet, Inc. | -0.13 | -0.03 | 0.13 | 83 | Technology | |
| Palo Alto Networks, Inc. | -0.10 | -0.06 | 0.08 | 91 | Technology | |
| The New York Times Company | -0.10 | 0.12 | 0.19 | 81 | Communication Services |
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