Looking to balance out your exposure to NOVT? The ETFs below have the lowest correlation with NOVT — they tend to move on their own, which can help reduce risk when NOVT drops. The stock ideas table highlights individual companies that behave independently from NOVT.
Best Diversifiers for NOVT
0 ETFs have low correlation with NOVT (below 0.3), 0 of which are negatively correlated. The least correlated is AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) (Options Trading) with a 1Y correlation of 0.48, down from 0.62 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AllianzIM U.S. Large Cap Buffer10 Apr ETF | 0.48 | 0.56 | 0.62 | 97 | Options Trading | NOVT vs APRT |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NOVT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NOVT and solid risk/return profiles. The least correlated is Coca-Cola Consolidated, Inc. (COKE) (Consumer Defensive) with a 1Y correlation of -0.02, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Coca-Cola Consolidated, Inc. | -0.02 | 0.12 | 0.23 | 83 | Consumer Defensive | |
| Murphy USA Inc. | -0.02 | 0.08 | 0.16 | 77 | Consumer Cyclical | |
| Cytokinetics, Incorporated | 0.11 | 0.19 | 0.27 | 94 | Healthcare | |
| Lantheus Holdings, Inc. | 0.16 | 0.25 | 0.31 | 63 | Healthcare | |
| Texas Pacific Land Corporation | 0.20 | 0.21 | 0.25 | 57 | Energy |
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