Looking to balance out your exposure to NEXT? The ETFs below have the lowest correlation with NEXT — they tend to move on their own, which can help reduce risk when NEXT drops. The stock ideas table highlights individual companies that behave independently from NEXT.
Best Diversifiers for NEXT
3 ETFs have low correlation with NEXT (below 0.3), 3 of which are negatively correlated. The least correlated is Vanguard FTSE Emerging Markets ETF (VWO) (Emerging Markets Equities) with a 1Y correlation of -0.15, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Emerging Markets ETF | -0.15 | 0.10 | 0.19 | 56 | Emerging Markets Equities | NEXT vs VWO | |
| abrdn Physical Silver Shares ETF | -0.14 | 0.07 | 0.11 | 51 | Silver, Precious Metals | NEXT vs SIVR | |
| Invesco QQQ ETF | -0.06 | 0.10 | 0.19 | 74 | Nasdaq-100 | NEXT vs QQQ | |
| State Street Energy Select Sector SPDR ETF | 0.39 | 0.35 | 0.42 | 70 | Energy Equities | NEXT vs XLE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NEXT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NEXT and solid risk/return profiles. The least correlated is Hudbay Minerals Inc. (HBM) (Basic Materials) with a 1Y correlation of -0.15, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hudbay Minerals Inc. | -0.15 | 0.12 | 0.21 | 94 | Basic Materials | |
| UniCredit SpA ADR | -0.14 | 0.04 | 0.10 | 71 | Financial Services | |
| Sompo Holdings Inc ADR | -0.14 | 0.02 | 0.04 | 64 | Financial Services | |
| Silvercorp Metals Inc. | -0.14 | 0.06 | 0.13 | 91 | Basic Materials | |
| Fortuna Silver Mines Inc. | -0.13 | 0.06 | 0.14 | 63 | Basic Materials |
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