Looking to balance out your exposure to NKTR? The ETFs below have the lowest correlation with NKTR — they tend to move on their own, which can help reduce risk when NKTR drops. The stock ideas table highlights individual companies that behave independently from NKTR.
Best Diversifiers for NKTR
1 ETFs have low correlation with NKTR (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.24, roughly unchanged from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.24 | 0.31 | 0.34 | 60 | S&P 500 | NKTR vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NKTR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NKTR and solid risk/return profiles. The least correlated is Edison International (EIX) (Utilities) with a 1Y correlation of 0.04, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Edison International | 0.04 | 0.13 | 0.12 | 90 | Utilities | |
| The Pennant Group, Inc. | 0.07 | 0.14 | 0.21 | 58 | Healthcare | |
| AngloGold Ashanti Limited | 0.08 | 0.09 | 0.09 | 77 | Basic Materials | |
| InnovAge Holding Corp. | 0.10 | 0.19 | 0.21 | 86 | Healthcare | |
| Equinox Gold Corp. | 0.11 | 0.13 | 0.15 | 70 | Basic Materials |
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