Looking to balance out your exposure to NOW? The ETFs below have the lowest correlation with NOW — they tend to move on their own, which can help reduce risk when NOW drops. The stock ideas table highlights individual companies that behave independently from NOW.
Best Diversifiers for NOW
260 ETFs have low correlation with NOW (below 0.3), 50 of which are negatively correlated. The least correlated is First Trust Nasdaq Semiconductor ETF (FTXL) (Semiconductors) with a 1Y correlation of -0.12, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Nasdaq Semiconductor ETF | -0.12 | 0.24 | 0.42 | 92 | Semiconductors, Technology Equities | NOW vs FTXL | |
| First Trust RBA American Industrial Renaissance ET... | -0.12 | 0.23 | 0.35 | 69 | Building & Construction | NOW vs AIRR | |
| Invesco Semiconductors ETF | -0.12 | 0.26 | 0.44 | 91 | Semiconductors, Technology Equities | NOW vs PSI | |
| Franklin International Low Volatility High Dividen... | -0.11 | 0.10 | 0.23 | 96 | Volatility Hedged Equity, Dividend | NOW vs LVHI | |
| iShares Semiconductor ETF | -0.10 | 0.27 | 0.45 | 91 | Semiconductors, Technology Equities | NOW vs SOXX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NOW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NOW and solid risk/return profiles. The least correlated is Powell Industries, Inc. (POWL) (Industrials) with a 1Y correlation of -0.23, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Powell Industries, Inc. | -0.23 | 0.14 | 0.18 | 96 | Industrials | |
| Parker-Hannifin Corporation | -0.22 | 0.23 | 0.32 | 80 | Industrials | |
| British American Tobacco p.l.c. | -0.21 | -0.09 | 0.00 | 76 | Consumer Defensive | |
| Johnson Controls International plc | -0.21 | 0.17 | 0.31 | 78 | Industrials | |
| Welltower Inc. | -0.21 | 0.04 | 0.12 | 93 | Real Estate |
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