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
285 ETFs have low correlation with NEE (below 0.3), 40 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.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR Bloomberg Investment Grade Float... | -0.10 | -0.01 | 0.04 | 99 | Ultrashort Bond | NEE vs FLRN | |
| iShares U.S. Technology ETF | -0.08 | -0.02 | 0.17 | 61 | Technology Equities | NEE vs IYW | |
| State Street Technology Select Sector SPDR ETF | -0.08 | -0.01 | 0.18 | 61 | Technology Equities | NEE vs XLK | |
| Fidelity MSCI Information Technology Index ETF | -0.08 | -0.00 | 0.18 | 57 | Technology Equities | NEE vs FTEC | |
| Vanguard Information Technology ETF | -0.08 | -0.00 | 0.18 | 57 | 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 -0.14, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CrowdStrike Holdings, Inc. | -0.14 | -0.11 | 0.05 | 82 | Technology | |
| AppLovin Corporation | -0.13 | -0.02 | 0.11 | 59 | Communication Services | |
| Credo Technology Group Holding Ltd | -0.12 | -0.05 | 0.05 | 81 | Technology | |
| Cadence Design Systems, Inc. | -0.12 | -0.08 | 0.12 | 59 | Technology | |
| Fortinet, Inc. | -0.11 | -0.03 | 0.13 | 77 | Technology |
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Build a portfolio that complements NEE
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