Looking to balance out your exposure to NOK? The ETFs below have the lowest correlation with NOK — they tend to move on their own, which can help reduce risk when NOK drops. The stock ideas table highlights individual companies that behave independently from NOK.
Best Diversifiers for NOK
12 ETFs have low correlation with NOK (below 0.3), 4 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.08, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.08 | -0.09 | -0.02 | 100 | Government Bonds, Ultrashort Bond | NOK vs BIL | |
| iShares 0-3 Month Treasury Bond ETF | -0.07 | -0.03 | -0.01 | 100 | Ultrashort Bond | NOK vs SGOV | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.02 | 0.05 | 0.11 | 57 | Commodities | NOK vs PDBC | |
| BondBloxx Bloomberg One Year Target Duration US Tr... | -0.00 | -0.00 | — | 99 | Government Bonds, Ultrashort Bond | NOK vs XONE | |
| iShares 0-5 Year TIPS Bond ETF | 0.01 | 0.03 | 0.08 | 91 | Inflation-Protected Bonds | NOK vs STIP |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NOK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NOK and solid risk/return profiles. The least correlated is MPLX LP (MPLX) (Energy) with a 1Y correlation of -0.10, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| MPLX LP | -0.10 | 0.10 | 0.21 | 82 | Energy | |
| Enterprise Products Partners L.P. | -0.09 | 0.07 | 0.20 | 87 | Energy | |
| Chubb Limited | -0.08 | 0.04 | 0.18 | 82 | Financial Services | |
| Duke Energy Corporation | -0.07 | 0.06 | 0.12 | 64 | Utilities | |
| Natera, Inc. | -0.05 | 0.10 | 0.24 | 86 | Healthcare |
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