Looking to balance out your exposure to NEM? The ETFs below have historically moved differently from NEM, 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 NEM
89 ETFs have low correlation with NEM (below 0.3), 8 of which are negatively correlated. The least correlated is Alerian MLP ETF (AMLP) (MLPs) with a 1Y correlation of -0.08, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Alerian MLP ETF | -0.08 | 0.14 | 0.20 | 67 | MLPs | NEM vs AMLP | |
| F/m US Treasury 3 Month Bill ETF | -0.07 | -0.01 | 0.01 | 100 | Ultrashort Bond | NEM vs TBIL | |
| SPDR S&P Oil & Gas Exploration & Production ETF | -0.04 | 0.13 | 0.18 | 60 | Energy Equities | NEM vs XOP | |
| iShares 0-3 Month Treasury Bond ETF | -0.04 | -0.02 | 0.01 | 100 | Ultrashort Bond | NEM vs SGOV | |
| PIMCO Enhanced Short Maturity Active ETF | -0.03 | -0.01 | 0.12 | 100 | Ultrashort Bond | NEM vs MINT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NEM, 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 Chubb Limited (CB) (Financial Services) with a 1Y correlation of -0.15, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chubb Limited | -0.15 | -0.00 | 0.05 | 87 | Financial Services | |
| The Allstate Corporation | -0.14 | 0.05 | 0.09 | 83 | Financial Services | |
| W. R. Berkley Corporation | -0.14 | -0.02 | 0.05 | 53 | Financial Services | |
| Equinor ASA | -0.13 | 0.12 | 0.16 | 85 | Energy | |
| Arch Capital Group Ltd. | -0.13 | 0.01 | 0.05 | 65 | Financial Services |
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