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
80 ETFs have low correlation with NEM (below 0.3), 4 of which are negatively correlated. The least correlated is F/m US Treasury 3 Month Bill ETF (TBIL) (Ultrashort Bond) with a 1Y correlation of -0.08, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| F/m US Treasury 3 Month Bill ETF | -0.08 | -0.01 | 0.01 | 100 | Ultrashort Bond | NEM vs TBIL | |
| PIMCO Enhanced Short Maturity Active ETF | -0.07 | -0.01 | 0.12 | 100 | Ultrashort Bond | NEM vs MINT | |
| iShares 0-3 Month Treasury Bond ETF | -0.05 | -0.03 | 0.01 | 100 | Ultrashort Bond | NEM vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.02 | 0.01 | 0.03 | 100 | Government Bonds, Ultrashort Bond | NEM vs BIL | |
| Global X MLP & Energy Infrastructure ETF | 0.04 | 0.25 | 0.28 | 55 | MLPs | NEM vs MLPX |
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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 -0.16, 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. | -0.16 | 0.10 | 0.15 | 80 | Energy | |
| Equinor ASA | -0.13 | 0.14 | 0.17 | 66 | Energy | |
| Diamondback Energy, Inc. | -0.10 | 0.10 | 0.13 | 76 | Energy | |
| EOG Resources, Inc. | -0.09 | 0.10 | 0.18 | 57 | Energy | |
| Cboe Global Markets, Inc. | -0.08 | -0.01 | 0.04 | 55 | Financial Services |
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