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 State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.22, roughly unchanged from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.22 | 0.27 | 0.31 | 70 | S&P 500 | NOA vs SPY | |
| Vanguard S&P 500 ETF | 0.22 | 0.27 | 0.31 | 70 | S&P 500 | NOA vs VOO |
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 Tidewater Inc. (TDW) (Energy) with a 1Y correlation of 0.26, down from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tidewater Inc. | 0.26 | 0.39 | 0.39 | 79 | Energy | |
| Solaris Energy Infrastructure, Inc | 0.28 | 0.35 | 0.39 | 89 | Energy | |
| Cummins Inc. | 0.29 | 0.32 | 0.34 | 95 | Industrials | |
| Liberty Oilfield Services Inc. | 0.29 | 0.37 | 0.45 | 91 | Energy | |
| Innovex International, Inc | 0.30 | 0.37 | 0.40 | 86 | Energy |
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