Looking to diversify beyond NOVZ? The ETFs below have the lowest correlation with NOVZ — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from NOVZ.
Best Diversifiers for NOVZ
187 ETFs have low correlation with NOVZ (below 0.3), 31 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.46, roughly unchanged from -0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.46 | -0.36 | -0.38 | 57 | Cryptocurrency | NOVZ vs BITI | |
| Invesco DB Energy Fund | -0.26 | -0.08 | 0.08 | 53 | Oil & Gas | NOVZ vs DBE | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.22 | — | — | 98 | Inflation-Protected Bonds | NOVZ vs IBIC | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.15 | 0.01 | 0.14 | 51 | Commodities | NOVZ vs GSG | |
| iShares iBonds Oct 2027 Term TIPS ETF | -0.15 | — | — | 96 | Inflation-Protected Bonds | NOVZ vs IBID |
See all 1131 diversifiers for NOVZ
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