Looking to balance out your exposure to NKE? The ETFs below have the lowest correlation with NKE — they tend to move on their own, which can help reduce risk when NKE drops. The stock ideas table highlights individual companies that behave independently from NKE.
Best Diversifiers for NKE
115 ETFs have low correlation with NKE (below 0.3), 9 of which are negatively correlated. The least correlated is WisdomTree Floating Rate Treasury Fund (USFR) (Government Bonds) with a 1Y correlation of -0.13, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree Floating Rate Treasury Fund | -0.13 | -0.03 | -0.03 | 100 | Government Bonds, Ultrashort Bond | NKE vs USFR | |
| Global X MLP & Energy Infrastructure ETF | -0.08 | 0.08 | 0.21 | 51 | MLPs | NKE vs MLPX | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.05 | -0.07 | -0.04 | 100 | Government Bonds, Ultrashort Bond | NKE vs BIL | |
| Vanguard 0-3 Month Treasury Bill ETF | -0.04 | — | — | 100 | Ultrashort Bond | NKE vs VBIL | |
| PIMCO Enhanced Short Maturity Active ETF | -0.02 | -0.02 | 0.06 | 100 | Ultrashort Bond | NKE vs MINT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NKE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NKE and solid risk/return profiles. The least correlated is Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.15, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.15 | 0.01 | 0.10 | 66 | Utilities | |
| Pembina Pipeline Corporation | -0.11 | 0.10 | 0.22 | 82 | Energy | |
| Altria Group, Inc. | -0.11 | 0.07 | 0.15 | 74 | Consumer Defensive | |
| The Williams Companies, Inc. | -0.11 | 0.06 | 0.18 | 75 | Energy | |
| Equinor ASA | -0.10 | 0.02 | 0.08 | 68 | Energy |
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