Looking to diversify beyond NOBL? The ETFs below have historically moved differently from NOBL, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for NOBL
847 ETFs have low correlation with NOBL (below 0.3), 79 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.25, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.25 | -0.12 | 0.06 | 66 | Oil & Gas | NOBL vs DBE | |
| United States Gasoline Fund, LP | -0.24 | -0.10 | 0.04 | 83 | Oil & Gas | NOBL vs UGA | |
| Invesco DB Oil Fund | -0.24 | -0.11 | 0.05 | 51 | Oil & Gas | NOBL vs DBO | |
| Invesco DB Commodity Index Tracking Fund | -0.21 | -0.05 | 0.10 | 68 | Commodities | NOBL vs DBC | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.21 | -0.06 | 0.09 | 61 | Commodities | NOBL vs GSG |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NOBL, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Credo Technology Group Holding Ltd (CRDO) (Technology) with a 1Y correlation of -0.20, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Credo Technology Group Holding Ltd | -0.20 | 0.02 | 0.15 | 77 | Technology | |
| Broadcom Inc. | -0.16 | 0.07 | 0.28 | 68 | Technology | |
| NVIDIA Corporation | -0.15 | 0.02 | 0.25 | 61 | Technology | |
| Micron Technology, Inc. | -0.12 | 0.06 | 0.22 | 99 | Technology | |
| Lumentum Holdings Inc. | -0.11 | 0.12 | 0.26 | 98 | Technology |
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