Looking to balance out your exposure to NIO? The ETFs below have the lowest correlation with NIO — they tend to move on their own, which can help reduce risk when NIO drops. The stock ideas table highlights individual companies that behave independently from NIO.
Best Diversifiers for NIO
8 ETFs have low correlation with NIO (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Equal Weight ETF (RSP) (S&P 500) with a 1Y correlation of 0.08, down from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Equal Weight ETF | 0.08 | 0.27 | 0.38 | 63 | S&P 500, Equal Weight | NIO vs RSP | |
| SPDR S&P Biotech ETF | 0.16 | 0.26 | 0.39 | 93 | Health & Biotech Equities | NIO vs XBI | |
| iShares Core S&P 500 ETF | 0.19 | 0.27 | 0.39 | 66 | S&P 500 | NIO vs IVV | |
| State Street SPDR S&P 500 ETF | 0.19 | 0.27 | 0.39 | 65 | S&P 500 | NIO vs SPY | |
| Vanguard S&P 500 ETF | 0.19 | 0.27 | 0.39 | 66 | S&P 500 | NIO vs VOO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NIO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NIO and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.18, down from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.18 | -0.07 | -0.00 | 56 | Industrials | |
| Altria Group, Inc. | -0.13 | 0.01 | 0.03 | 80 | Consumer Defensive | |
| UGI Corporation | -0.13 | 0.11 | 0.16 | 52 | Utilities | |
| ConocoPhillips Company | -0.09 | 0.03 | 0.08 | 69 | Energy | |
| Apache Corporation | -0.08 | 0.08 | 0.17 | 89 | Energy |
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Build a portfolio that complements NIO
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