Looking to balance out your exposure to NGL? The ETFs below have the lowest correlation with NGL — they tend to move on their own, which can help reduce risk when NGL drops. The stock ideas table highlights individual companies that behave independently from NGL.
Best Diversifiers for NGL
2 ETFs have low correlation with NGL (below 0.3), 0 of which are negatively correlated. The least correlated is United States Gasoline Fund LP (UGA) (Oil & Gas) with a 1Y correlation of 0.13, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Gasoline Fund LP | 0.13 | 0.19 | 0.22 | 69 | Oil & Gas | NGL vs UGA | |
| SPDR S&P Oil & Gas Equipment & Services ETF | 0.25 | 0.27 | 0.33 | 89 | Energy Equities | NGL vs XES |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NGL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NGL and solid risk/return profiles. The least correlated is IAMGOLD Corporation (IAG) (Basic Materials) with a 1Y correlation of -0.01, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| IAMGOLD Corporation | -0.01 | 0.03 | 0.10 | 84 | Basic Materials | |
| AbbVie Inc. | 0.00 | 0.05 | 0.03 | 62 | Healthcare | |
| NVIDIA Corporation | 0.01 | 0.08 | 0.14 | 78 | Technology | |
| Korea Electric Power Corporation | 0.05 | 0.07 | 0.09 | 52 | Utilities | |
| National Energy Services Reunited Corp. | 0.08 | 0.12 | 0.20 | 98 | Energy |
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