Looking to balance out your exposure to NJR? The ETFs below have historically moved differently from NJR, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for NJR
3 ETFs have low correlation with NJR (below 0.3), 3 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of -0.27, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | -0.27 | 0.06 | 0.22 | 72 | S&P 500 | NJR vs VOO | |
| State Street SPDR S&P 500 ETF | -0.27 | 0.06 | 0.21 | 72 | S&P 500 | NJR vs SPY | |
| Industrial Select Sector SPDR Fund | -0.02 | 0.22 | 0.34 | 53 | Industrials Equities | NJR vs XLI |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NJR, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Nuveen AMT-Free Municipal Credit Income Fund (NVG) (Financial Services) with a 1Y correlation of 0.05, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nuveen AMT-Free Municipal Credit Income Fund | 0.05 | 0.19 | 0.18 | 75 | Financial Services | |
| Trinity Industries, Inc. | 0.21 | 0.31 | 0.36 | 74 | Industrials | |
| EPR Properties | 0.31 | 0.40 | 0.42 | 66 | Real Estate | |
| NextEra Energy, Inc. | 0.42 | 0.42 | 0.46 | 77 | Utilities | |
| PG&E Corporation | 0.44 | 0.44 | 0.41 | 62 | Utilities |
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