Looking to balance out your exposure to NL? The ETFs below have the lowest correlation with NL — they tend to move on their own, which can help reduce risk when NL drops. The stock ideas table highlights individual companies that behave independently from NL.
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.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.23 | 0.29 | 0.37 | 63 | S&P 500 | NL vs SPY | |
| Vanguard S&P 500 ETF | 0.23 | 0.29 | 0.37 | 64 | S&P 500 | NL vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NL and solid risk/return profiles. The least correlated is Suncor Energy Inc. (SU) (Energy) with a 1Y correlation of 0.08, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Suncor Energy Inc. | 0.08 | 0.12 | 0.21 | 89 | Energy | |
| Peabody Energy Corporation | 0.09 | 0.09 | 0.10 | 72 | Energy | |
| Tenaris S.A. | 0.11 | 0.15 | 0.23 | 85 | Energy | |
| Essent Group Ltd. | 0.15 | 0.24 | 0.32 | 57 | Financial Services | |
| PulteGroup, Inc. | 0.21 | 0.19 | 0.26 | 57 | Consumer Cyclical |
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