Looking to diversify beyond NRJL.L? The ETFs below have the lowest correlation with NRJL.L — 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 NRJL.L.
Best Diversifiers for NRJL.L
8 ETFs have low correlation with NRJL.L (below 0.3), 7 of which are negatively correlated. The least correlated is iShares MSCI World Energy Sector UCITS ETF USD (Dist) (WENS.L) (Energy Equities) with a 1Y correlation of -0.08, down from 0.16 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI World Energy Sector UCITS ETF USD (Di... | -0.08 | 0.16 | — | 50 | Energy Equities | NRJL.L vs WENS.L | |
| Amundi Smart Overnight Return UCITS ETF GBP Hedged... | -0.07 | -0.08 | -0.07 | 99 | Money Market | NRJL.L vs CSH2.L | |
| HANetf Alerian Midstream Energy Dividend UCITS ETF | -0.06 | 0.18 | 0.29 | 63 | Energy Equities | NRJL.L vs PMLP.L | |
| SPDR MSCI Europe Energy UCITS ETF | -0.04 | 0.20 | 0.23 | 50 | Energy Equities | NRJL.L vs ENGE.L | |
| iShares MSCI Europe Energy Sector UCITS ETF EUR (A... | -0.04 | 0.18 | 0.23 | 51 | Energy Equities | NRJL.L vs ESIE.L |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NRJL.L, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NRJL.L and solid risk/return profiles. The least correlated is Greatland Gold plc (GGP.L) (Basic Materials) with a 1Y correlation of 0.25, up from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Greatland Gold plc | 0.25 | 0.12 | 0.13 | 79 | Basic Materials | |
| Fresnillo plc | 0.37 | 0.34 | 0.30 | 83 | Basic Materials | |
| Atalaya Mining Ltd | 0.42 | 0.36 | 0.31 | 80 | Basic Materials |
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