Looking to balance out your exposure to NICE? The ETFs below have the lowest correlation with NICE — they tend to move on their own, which can help reduce risk when NICE drops. The stock ideas table highlights individual companies that behave independently from NICE.
Best Diversifiers for NICE
2 ETFs have low correlation with NICE (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.22, down from 0.49 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.22 | 0.40 | 0.49 | 74 | S&P 500 | NICE vs VOO | |
| State Street SPDR S&P 500 ETF | 0.23 | 0.40 | 0.49 | 74 | S&P 500 | NICE vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NICE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NICE and solid risk/return profiles. The least correlated is CareTrust REIT, Inc. (CTRE) (Real Estate) with a 1Y correlation of -0.16, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CareTrust REIT, Inc. | -0.16 | 0.01 | 0.12 | 80 | Real Estate | |
| Johnson & Johnson | -0.12 | -0.04 | 0.04 | 94 | Healthcare | |
| IAMGOLD Corporation | -0.11 | 0.02 | 0.06 | 86 | Basic Materials | |
| Eldorado Gold Corporation | -0.10 | 0.04 | 0.08 | 68 | Basic Materials | |
| Osisko Gold Royalties Ltd | -0.09 | 0.02 | 0.07 | 63 | Basic Materials |
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