Looking to balance out your exposure to NRDBY? The ETFs below have the lowest correlation with NRDBY — they tend to move on their own, which can help reduce risk when NRDBY drops. The stock ideas table highlights individual companies that behave independently from NRDBY.
Best Diversifiers for NRDBY
0 ETFs have low correlation with NRDBY (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.52, roughly unchanged from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.52 | 0.40 | 0.44 | 65 | S&P 500 | NRDBY vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NRDBY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NRDBY and solid risk/return profiles. The least correlated is Roche Holding AG (RHHBY) (Healthcare) with a 1Y correlation of 0.27, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Roche Holding AG | 0.27 | 0.27 | 0.25 | 75 | Healthcare | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.33 | 0.29 | 0.32 | 89 | Technology | |
| Caterpillar Inc. | 0.33 | 0.35 | 0.39 | 96 | Industrials | |
| Morgan Stanley | 0.41 | 0.38 | 0.43 | 90 | Financial Services | |
| UniCredit SpA ADR | 0.65 | 0.57 | 0.56 | 79 | Financial Services |
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