Looking to balance out your exposure to NEMKY? The ETFs below have the lowest correlation with NEMKY — they tend to move on their own, which can help reduce risk when NEMKY drops. The stock ideas table highlights individual companies that behave independently from NEMKY.
Best Diversifiers for NEMKY
1 ETFs have low correlation with NEMKY (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.00, roughly unchanged from -0.00 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.00 | -0.00 | — | 70 | S&P 500 | NEMKY vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NEMKY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NEMKY and solid risk/return profiles. The least correlated is The Hershey Company (HSY) (Consumer Defensive) with a 1Y correlation of -0.08, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Hershey Company | -0.08 | -0.05 | -0.04 | 55 | Consumer Defensive | |
| Old Dominion Freight Line, Inc. | 0.00 | 0.00 | 0.01 | 71 | Industrials | |
| Quanta Services, Inc. | 0.05 | 0.05 | 0.04 | 93 | Industrials |
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