Looking to balance out your exposure to NL? The ETFs below have historically moved differently from NL, 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 NL
2 ETFs have low correlation with NL (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 0.23, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.23 | 0.30 | 0.37 | 61 | S&P 500 | NL vs SPY | |
| Vanguard S&P 500 ETF | 0.23 | 0.30 | 0.37 | 61 | S&P 500 | NL vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NL, 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 Suncor Energy Inc. (SU) (Energy) with a 1Y correlation of 0.07, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Suncor Energy Inc. | 0.07 | 0.12 | 0.21 | 92 | Energy | |
| Peabody Energy Corporation | 0.09 | 0.08 | 0.09 | 71 | Energy | |
| Tenaris S.A. | 0.11 | 0.15 | 0.22 | 88 | Energy | |
| Essent Group Ltd. | 0.14 | 0.23 | 0.32 | 73 | Financial Services | |
| PulteGroup, Inc. | 0.20 | 0.19 | 0.26 | 61 | Consumer Cyclical |
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