Looking to balance out your exposure to NOA? The ETFs below have the lowest correlation with NOA — they tend to move on their own, which can help reduce risk when NOA drops. The stock ideas table highlights individual companies that behave independently from NOA.
Best Diversifiers for NOA
2 ETFs have low correlation with NOA (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.29, roughly unchanged from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.29 | 0.29 | 0.32 | 60 | S&P 500 | NOA vs VOO | |
| State Street SPDR S&P 500 ETF | 0.29 | 0.29 | 0.32 | 60 | S&P 500 | NOA vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NOA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NOA and solid risk/return profiles. The least correlated is Exelon Corporation (EXC) (Utilities) with a 1Y correlation of 0.01, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exelon Corporation | 0.01 | -0.00 | 0.09 | 61 | Utilities | |
| Tidewater Inc. | 0.25 | 0.39 | 0.39 | 69 | Energy | |
| Liberty Oilfield Services Inc. | 0.28 | 0.37 | 0.45 | 90 | Energy | |
| Solaris Energy Infrastructure, Inc | 0.29 | 0.35 | 0.39 | 91 | Energy | |
| Innovex International, Inc | 0.30 | 0.37 | 0.41 | 85 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements NOA
Add NOA to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with NOA