Looking to balance out your exposure to NEM? The ETFs below have the lowest correlation with NEM — they tend to move on their own, which can help reduce risk when NEM drops. The stock ideas table highlights individual companies that behave independently from NEM.
Best Diversifiers for NEM
190 ETFs have low correlation with NEM (below 0.3), 3 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.09, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.09 | 0.07 | 0.13 | 66 | Oil & Gas | NEM vs USO | |
| ProShares Ultra Bloomberg Crude Oil | -0.06 | 0.07 | 0.13 | 54 | Leveraged Commodities | NEM vs UCO | |
| iShares 0-3 Month Treasury Bond ETF | -0.04 | -0.03 | 0.02 | 100 | Ultrashort Bond | NEM vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.00 | 0.02 | 0.03 | 100 | Government Bonds, Ultrashort Bond | NEM vs BIL | |
| US Treasury 3 Month Bill ETF | 0.01 | 0.04 | 0.04 | 100 | Ultrashort Bond | NEM vs TBIL |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NEM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NEM and solid risk/return profiles. The least correlated is Plains All American Pipeline, L.P. (PAA) (Energy) with a 1Y correlation of -0.14, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Plains All American Pipeline, L.P. | -0.14 | 0.11 | 0.15 | 87 | Energy | |
| AMN Healthcare Services, Inc. | -0.10 | 0.02 | 0.03 | 66 | Healthcare | |
| Equinor ASA | -0.08 | 0.15 | 0.18 | 82 | Energy | |
| Sunoco LP | -0.08 | 0.06 | 0.12 | 76 | Energy | |
| Verizon Communications Inc. | -0.07 | 0.11 | 0.17 | 59 | Communication Services |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements NEM
Add NEM to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with NEM