Looking to balance out your exposure to NN? The ETFs below have the lowest correlation with NN — they tend to move on their own, which can help reduce risk when NN drops. The stock ideas table highlights individual companies that behave independently from NN.
Best Diversifiers for NN
0 ETFs have low correlation with NN (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 0.31, roughly unchanged from 0.32 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.31 | 0.32 | — | 70 | S&P 500 | NN vs SPY | |
| ProShares UltraPro QQQ | 0.32 | 0.32 | — | 71 | Leveraged Equities | NN vs TQQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NN and solid risk/return profiles. The least correlated is Novartis AG (NVS) (Healthcare) with a 1Y correlation of -0.02, roughly unchanged from -0.00 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Novartis AG | -0.02 | -0.00 | — | 75 | Healthcare | |
| Palo Alto Networks, Inc. | 0.07 | 0.16 | — | 67 | Technology | |
| Zijin Mining Group Co Ltd ADR | 0.09 | 0.02 | — | 81 | Basic Materials | |
| Apple Inc | 0.10 | 0.13 | — | 89 | Technology | |
| Celestica Inc. | 0.11 | 0.21 | — | 94 | Technology |
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