Looking to balance out your exposure to NEXA? The ETFs below have the lowest correlation with NEXA — they tend to move on their own, which can help reduce risk when NEXA drops. The stock ideas table highlights individual companies that behave independently from NEXA.
Best Diversifiers for NEXA
0 ETFs have low correlation with NEXA (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.37, roughly unchanged from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.37 | 0.22 | 0.27 | 59 | Nasdaq-100 | NEXA vs QQQ | |
| Vanguard S&P 500 ETF | 0.39 | 0.24 | 0.31 | 59 | S&P 500 | NEXA vs VOO | |
| State Street SPDR S&P 500 ETF | 0.40 | 0.24 | 0.31 | 59 | S&P 500 | NEXA vs SPY | |
| Invesco DB Base Metals Fund | 0.41 | 0.30 | 0.36 | 54 | Metals | NEXA vs DBB |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NEXA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NEXA and solid risk/return profiles. The least correlated is Credo Technology Group Holding Ltd (CRDO) (Technology) with a 1Y correlation of 0.11, roughly unchanged from 0.07 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Credo Technology Group Holding Ltd | 0.11 | 0.07 | — | 88 | Technology | |
| Millicom International Cellular S.A. | 0.13 | 0.18 | 0.23 | 98 | Communication Services | |
| MaxLinear, Inc. | 0.15 | 0.14 | 0.18 | 99 | Technology | |
| Lumentum Holdings Inc. | 0.18 | 0.14 | 0.16 | 99 | Technology | |
| Nuvation Bio Inc. | 0.19 | 0.09 | 0.13 | 87 | Healthcare |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements NEXA
Add NEXA to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with NEXA