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
8 ETFs have low correlation with NOK (below 0.3), 3 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 -0.03, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.03 | -0.06 | -0.01 | 100 | Government Bonds, Ultrashort Bond | NOK vs BIL | |
| iShares 0-3 Month Treasury Bond ETF | -0.01 | -0.01 | 0.01 | 100 | Ultrashort Bond | NOK vs SGOV | |
| iShares 0-5 Year TIPS Bond ETF | -0.00 | 0.04 | 0.08 | 85 | Inflation-Protected Bonds | NOK vs STIP | |
| BondBloxx Bloomberg One Year Target Duration US Tr... | 0.02 | 0.01 | — | 99 | Government Bonds, Ultrashort Bond | NOK vs XONE | |
| iShares 1-3 Year Treasury Bond ETF | 0.04 | 0.05 | 0.06 | 72 | Government Bonds, Short-Term Bond | NOK vs SHY |
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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 Natera, Inc. (NTRA) (Healthcare) with a 1Y correlation of -0.04, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Natera, Inc. | -0.04 | 0.11 | 0.24 | 66 | Healthcare | |
| Kinder Morgan, Inc. | -0.03 | 0.14 | 0.26 | 72 | Energy | |
| Duke Energy Corporation | -0.02 | 0.08 | 0.13 | 62 | Utilities | |
| Energy Transfer LP | -0.01 | 0.11 | 0.22 | 72 | Energy | |
| Antero Midstream Corporation | -0.01 | 0.13 | 0.25 | 75 | Energy |
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