Looking to balance out your exposure to NESR? The ETFs below have historically moved differently from NESR, 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 NESR
1 ETFs have low correlation with NESR (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Energy Income ETF (EINC) (Energy Equities) with a 1Y correlation of 0.05, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Energy Income ETF | 0.05 | 0.14 | 0.34 | 79 | Energy Equities | NESR vs EINC | |
| Invesco QQQ ETF | 0.30 | 0.23 | 0.24 | 58 | Nasdaq-100 | NESR vs QQQ | |
| VanEck Semiconductor ETF | 0.33 | 0.24 | 0.25 | 88 | Semiconductors, Technology Equities | NESR vs SMH | |
| iShares Semiconductor ETF | 0.34 | 0.25 | 0.25 | 90 | Semiconductors, Technology Equities | NESR vs SOXX | |
| iShares MSCI USA Value Factor ETF | 0.40 | 0.29 | 0.35 | 97 | Large Cap Value Equities | NESR vs VLUE |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NESR, 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 Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.15, down from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.15 | -0.11 | -0.02 | 62 | Financial Services | |
| CrowdStrike Holdings, Inc. | -0.01 | 0.06 | 0.09 | 83 | Technology | |
| Par Pacific Holdings, Inc. | 0.03 | 0.12 | 0.26 | 95 | Energy | |
| JSC National Atomic Company Kazatomprom | 0.05 | 0.04 | 0.05 | 77 | Energy | |
| Eli Lilly and Company | 0.08 | 0.04 | 0.07 | 79 | Healthcare |
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