Looking to diversify beyond NOBL? The ETFs below have the lowest correlation with NOBL — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from NOBL.
Best Diversifiers for NOBL
550 ETFs have low correlation with NOBL (below 0.3), 51 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.22, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.22 | -0.13 | -0.09 | 61 | Leveraged Currency | NOBL vs YCS | |
| United States Gasoline Fund LP | -0.21 | -0.05 | 0.07 | 69 | Oil & Gas | NOBL vs UGA | |
| United States 12 Month Oil Fund LP | -0.20 | -0.04 | 0.09 | 56 | Oil & Gas | NOBL vs USL | |
| Invesco DB Energy Fund | -0.20 | -0.06 | 0.09 | 71 | Oil & Gas | NOBL vs DBE | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.20 | -0.05 | 0.09 | 55 | Oil & Gas | NOBL vs OILK |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NOBL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NOBL and solid risk/return profiles. The least correlated is Credo Technology Group Holding Ltd (CRDO) (Technology) with a 1Y correlation of -0.11, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Credo Technology Group Holding Ltd | -0.11 | 0.06 | 0.18 | 85 | Technology | |
| NVIDIA Corporation | -0.08 | 0.04 | 0.25 | 78 | Technology | |
| Oracle Corporation | -0.04 | 0.19 | 0.32 | 58 | Technology | |
| CrowdStrike Holdings, Inc. | -0.04 | 0.11 | 0.19 | 70 | Technology | |
| Broadcom Inc. | -0.02 | 0.12 | 0.29 | 84 | Technology |
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