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
139 ETFs have low correlation with NKE (below 0.3), 17 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.19, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.19 | -0.07 | 0.04 | 66 | Oil & Gas | NKE vs USO | |
| ProShares Ultra Bloomberg Crude Oil | -0.19 | -0.05 | 0.05 | 54 | Leveraged Commodities | NKE vs UCO | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.16 | -0.03 | 0.08 | 74 | Commodities | NKE vs PDBC | |
| Invesco DB Commodity Index Tracking Fund | -0.16 | -0.02 | 0.09 | 75 | Commodities | NKE vs DBC | |
| WisdomTree Floating Rate Treasury Fund | -0.11 | -0.03 | -0.03 | 100 | Government Bonds, Ultrashort Bond | NKE vs USFR |
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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 Pembina Pipeline Corporation (PBA) (Energy) with a 1Y correlation of -0.10, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Pembina Pipeline Corporation | -0.10 | 0.12 | 0.23 | 82 | Energy | |
| The Williams Companies, Inc. | -0.10 | 0.07 | 0.18 | 66 | Energy | |
| Altria Group, Inc. | -0.10 | 0.09 | 0.16 | 69 | Consumer Defensive | |
| Suncor Energy Inc. | -0.09 | 0.05 | 0.17 | 95 | Energy | |
| Equinor ASA | -0.09 | 0.02 | 0.09 | 82 | Energy |
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