Looking to balance out your exposure to NMM? The ETFs below have the lowest correlation with NMM — they tend to move on their own, which can help reduce risk when NMM drops. The stock ideas table highlights individual companies that behave independently from NMM.
Best Diversifiers for NMM
2 ETFs have low correlation with NMM (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.17, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.17 | 0.26 | 0.30 | 73 | Nasdaq-100 | NMM vs QQQ | |
| Invesco NASDAQ 100 ETF | 0.18 | 0.27 | 0.30 | 74 | Nasdaq-100 | NMM vs QQQM |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NMM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NMM and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.08, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.08 | 0.19 | 0.25 | 78 | Technology | |
| Matson, Inc. | 0.29 | 0.34 | 0.40 | 83 | Industrials | |
| Tidewater Inc. | 0.36 | 0.33 | 0.35 | 79 | Energy | |
| ZIM Integrated Shipping Services Ltd. | 0.38 | 0.37 | 0.44 | 72 | Industrials | |
| Dorian LPG Ltd. | 0.51 | 0.47 | 0.47 | 89 | Energy |
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