Looking to diversify beyond NIOG? The ETFs below have the lowest correlation with NIOG — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from NIOG.
Best Diversifiers for NIOG
4 ETFs have low correlation with NIOG (below 0.3), 0 of which are negatively correlated. The least correlated is MicroSectors U.S. Big Banks Index 3X Leveraged ETNs (BNKU) (Leveraged Equities) with a 1Y correlation of 0.02, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| MicroSectors U.S. Big Banks Index 3X Leveraged ETN... | 0.02 | 0.02 | 0.02 | 59 | Leveraged Equities | NIOG vs BNKU | |
| GraniteShares 2x Long AAPL Daily ETF | 0.13 | 0.13 | — | 83 | Leveraged Equities | NIOG vs AAPB | |
| Direxion Daily S&P 500 High Beta Bull 3X Shares | 0.23 | 0.23 | 0.23 | 66 | Leveraged Equities, S&P 500 | NIOG vs HIBL | |
| Direxion Daily CSI 300 China A Share Bull 2x Share... | 0.28 | 0.28 | 0.28 | 51 | China Equities, Leveraged Equities, Asia Pacific Equities | NIOG vs CHAU | |
| Direxion Daily TSM Bull 2X Shares | 0.31 | 0.31 | 0.31 | 67 | Leveraged Equities | NIOG vs TSMX |
Diversification Analysis
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