Looking to balance out your exposure to NOMD? The ETFs below have the lowest correlation with NOMD — they tend to move on their own, which can help reduce risk when NOMD drops. The stock ideas table highlights individual companies that behave independently from NOMD.
Best Diversifiers for NOMD
2 ETFs have low correlation with NOMD (below 0.3), 1 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 -0.02, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | -0.02 | 0.10 | 0.25 | 65 | S&P 500 | NOMD vs SPY | |
| JPMorgan Flexible Income ETF | 0.01 | — | — | 71 | Global Allocation | NOMD vs JFLI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NOMD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NOMD and solid risk/return profiles. The least correlated is Brookfield Renewable Partners L.P. (BEP) (Utilities) with a 1Y correlation of -0.10, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Brookfield Renewable Partners L.P. | -0.10 | 0.10 | 0.16 | 71 | Utilities | |
| Onto Innovation Inc. | -0.06 | 0.00 | 0.09 | 95 | Technology | |
| Cadence Design Systems, Inc. | -0.06 | -0.04 | 0.09 | 57 | Technology | |
| Scorpio Tankers Inc. | -0.02 | 0.04 | 0.04 | 91 | Energy | |
| CF Industries Holdings, Inc. | -0.02 | 0.08 | 0.07 | 67 | Basic Materials |
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