Looking to balance out your exposure to NLCP? The ETFs below have the lowest correlation with NLCP — they tend to move on their own, which can help reduce risk when NLCP drops. The stock ideas table highlights individual companies that behave independently from NLCP.
Best Diversifiers for NLCP
23 ETFs have low correlation with NLCP (below 0.3), 2 of which are negatively correlated. The least correlated is Breakwave Tanker Shipping ETF (BWET) (Commodities) with a 1Y correlation of -0.13, down from -0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Breakwave Tanker Shipping ETF | -0.13 | -0.03 | — | 99 | Commodities | NLCP vs BWET | |
| iShares Floating Rate Bond ETF | -0.01 | 0.02 | 0.06 | 99 | Ultrashort Bond, Corporate Bonds | NLCP vs FLOT | |
| SPDR S&P Oil & Gas Equipment & Services ETF | 0.00 | 0.05 | — | 86 | Energy Equities | NLCP vs XES | |
| VanEck IG Floating Rate ETF | 0.01 | 0.01 | — | 99 | Corporate Bonds, Ultrashort Bond | NLCP vs FLTR | |
| Invesco Variable Rate Investment Grade ETF | 0.02 | 0.05 | 0.07 | 99 | Ultrashort Bond | NLCP vs VRIG |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NLCP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NLCP and solid risk/return profiles. The least correlated is The J. M. Smucker Company (SJM) (Consumer Defensive) with a 1Y correlation of -0.03, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The J. M. Smucker Company | -0.03 | 0.01 | 0.03 | 55 | Consumer Defensive | |
| TotalEnergies SE | -0.03 | 0.05 | 0.08 | 79 | Energy | |
| Global Ship Lease, Inc. | 0.02 | 0.06 | — | 90 | Industrials | |
| Micron Technology, Inc. | 0.05 | 0.09 | 0.11 | 99 | Technology | |
| Targa Resources Corp. | 0.07 | 0.04 | — | 94 | Energy |
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