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
190 ETFs have low correlation with NOVZ (below 0.3), 43 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.31, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.31 | -0.07 | 0.09 | 71 | Oil & Gas | NOVZ vs DBE | |
| United States Brent Oil Fund LP | -0.29 | -0.06 | 0.08 | 65 | Oil & Gas | NOVZ vs BNO | |
| Invesco DB Oil Fund | -0.28 | -0.04 | 0.09 | 65 | Oil & Gas | NOVZ vs DBO | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.23 | -0.05 | -0.05 | 98 | Inflation-Protected Bonds | NOVZ vs IBIC | |
| iShares Commodities Select Strategy ETF | -0.22 | 0.00 | 0.13 | 71 | Commodities | NOVZ vs COMT |
See all 1155 diversifiers for NOVZ
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