Looking to balance out your exposure to NOVT? The ETFs below have historically moved differently from NOVT, 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 NOVT
0 ETFs have low correlation with NOVT (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Information Technology ETF (VGT) (Technology Equities) with a 1Y correlation of 0.47, down from 0.61 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Information Technology ETF | 0.47 | 0.54 | 0.61 | 52 | Technology Equities | NOVT vs VGT | |
| AllianzIM U.S. Large Cap Buffer10 Apr ETF | 0.49 | 0.57 | 0.62 | 97 | Options Trading | NOVT vs APRT |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NOVT, 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 Murphy USA Inc. (MUSA) (Consumer Cyclical) with a 1Y correlation of -0.04, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Murphy USA Inc. | -0.04 | 0.07 | 0.15 | 89 | Consumer Cyclical | |
| Coca-Cola Consolidated, Inc. | -0.02 | 0.13 | 0.23 | 87 | Consumer Defensive | |
| Cytokinetics, Incorporated | 0.12 | 0.20 | 0.28 | 93 | Healthcare | |
| Texas Roadhouse, Inc. | 0.13 | 0.29 | 0.36 | 58 | Consumer Cyclical | |
| Lantheus Holdings, Inc. | 0.16 | 0.25 | 0.31 | 70 | Healthcare |
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