Looking to balance out your exposure to NRG? The ETFs below have historically moved differently from NRG, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for NRG
7 ETFs have low correlation with NRG (below 0.3), 2 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.18, down from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.18 | -0.00 | -0.02 | 100 | Ultrashort Bond | NRG vs SGOV | |
| State Street Energy Select Sector SPDR ETF | -0.06 | 0.15 | 0.24 | 75 | Energy Equities | NRG vs XLE | |
| Schwab U.S. Dividend Equity ETF | 0.03 | 0.18 | 0.34 | 95 | Dividend | NRG vs SCHD | |
| Vanguard Short-Term Bond Index Fund ETF Shares | 0.12 | 0.03 | 0.05 | 56 | Short-Term Bond | NRG vs BSV | |
| JPMorgan Equity Premium Income ETF | 0.23 | 0.33 | 0.41 | 56 | Dividend, Derivative Income | NRG vs JEPI |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NRG, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Arch Capital Group Ltd. (ACGL) (Financial Services) with a 1Y correlation of -0.19, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Arch Capital Group Ltd. | -0.19 | 0.03 | 0.19 | 65 | Financial Services | |
| The Coca-Cola Company | -0.19 | -0.09 | 0.08 | 87 | Consumer Defensive | |
| Cboe Global Markets, Inc. | -0.18 | -0.13 | 0.02 | 62 | Financial Services | |
| Aflac Incorporated | -0.17 | 0.08 | 0.24 | 89 | Financial Services | |
| Dropbox, Inc. | -0.16 | 0.08 | 0.18 | 64 | Technology |
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