Looking to balance out your exposure to NEON? The ETFs below have the lowest correlation with NEON — they tend to move on their own, which can help reduce risk when NEON drops. The stock ideas table highlights individual companies that behave independently from NEON.
No Diversifiers Found for NEON
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NEON, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NEON and solid risk/return profiles. The least correlated is Lumen Technologies, Inc. (LUMN) (Communication Services) with a 1Y correlation of 0.12, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lumen Technologies, Inc. | 0.12 | 0.13 | 0.13 | 81 | Communication Services | |
| AppLovin Corporation | 0.14 | 0.18 | 0.21 | 59 | Technology | |
| Pulse Biosciences, Inc. | 0.17 | 0.15 | 0.17 | 63 | Healthcare | |
| NVIDIA Corporation | 0.18 | 0.17 | 0.24 | 78 | Technology | |
| Oscar Health, Inc. | 0.20 | 0.15 | 0.19 | 59 | Healthcare |
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