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
241 ETFs have low correlation with NEE (below 0.3), 21 of which are negatively correlated. The least correlated is SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) (Corporate Bonds) with a 1Y correlation of -0.10, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg Barclays Investment Grade Floating ... | -0.10 | -0.01 | 0.04 | 99 | Corporate Bonds | NEE vs FLRN | |
| iShares U.S. Technology ETF | -0.07 | -0.01 | 0.18 | 59 | Technology Equities | NEE vs IYW | |
| ProShares Ultra Semiconductors | -0.06 | -0.03 | 0.10 | 82 | Leveraged Equities, Semiconductors | NEE vs USD | |
| Fidelity MSCI Information Technology Index ETF | -0.06 | 0.01 | 0.19 | 59 | Technology Equities | NEE vs FTEC | |
| Vanguard Information Technology ETF | -0.05 | 0.01 | 0.19 | 58 | Technology Equities | NEE vs VGT |
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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 CrowdStrike Holdings, Inc. (CRWD) (Technology) with a 1Y correlation of -0.15, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CrowdStrike Holdings, Inc. | -0.15 | -0.11 | 0.05 | 66 | Technology | |
| NVIDIA Corporation | -0.12 | -0.07 | 0.08 | 70 | Technology | |
| Palo Alto Networks, Inc. | -0.11 | -0.05 | 0.09 | 69 | Technology | |
| AppLovin Corporation | -0.10 | -0.00 | 0.11 | 58 | Communication Services | |
| Fortinet, Inc. | -0.10 | -0.02 | 0.15 | 67 | Technology |
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