Looking to balance out your exposure to NHC? The ETFs below have the lowest correlation with NHC — they tend to move on their own, which can help reduce risk when NHC drops. The stock ideas table highlights individual companies that behave independently from NHC.
Best Diversifiers for NHC
2 ETFs have low correlation with NHC (below 0.3), 1 of which are negatively correlated. The least correlated is Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) (Commodities) with a 1Y correlation of -0.10, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Optimum Yield Diversified Commodity Strate... | -0.10 | -0.04 | 0.03 | 74 | Commodities | NHC vs PDBC | |
| State Street SPDR S&P 500 ETF | 0.25 | 0.32 | 0.35 | 70 | S&P 500 | NHC vs SPY | |
| Schwab U.S. Dividend Equity ETF | 0.31 | 0.35 | 0.39 | 80 | Dividend | NHC vs SCHD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NHC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NHC and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of 0.01, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | 0.01 | -0.03 | 0.06 | 68 | Financial Services | |
| NVIDIA Corporation | 0.02 | 0.07 | 0.11 | 78 | Technology | |
| Tsakos Energy Navigation Ltd | 0.03 | 0.05 | 0.08 | 94 | Energy | |
| Prysmian SPA ADR | 0.03 | 0.13 | 0.16 | 97 | Industrials | |
| Danaos Corporation | 0.10 | 0.08 | 0.09 | 91 | Industrials |
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