Looking to diversify beyond NOWL? The ETFs below have the lowest correlation with NOWL — 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 NOWL.
Best Diversifiers for NOWL
3 ETFs have low correlation with NOWL (below 0.3), 1 of which are negatively correlated. The least correlated is Leverage Shares 2X Long AMD Daily ETF (AMDG) (Leveraged Equities) with a 1Y correlation of -0.04, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Leverage Shares 2X Long AMD Daily ETF | -0.04 | -0.04 | -0.04 | 96 | Leveraged Equities | NOWL vs AMDG | |
| Direxion Daily S&P 500 Bull 2x Shares | 0.19 | 0.19 | 0.19 | 68 | Leveraged Equities, S&P 500 | NOWL vs SPUU | |
| Innovator Growth Accelerated Plus ETF - April | 0.21 | 0.21 | 0.21 | 98 | Leveraged Equities | NOWL vs QTAP |
Diversification Analysis
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