Looking to balance out your exposure to NSP? The ETFs below have the lowest correlation with NSP — they tend to move on their own, which can help reduce risk when NSP drops. The stock ideas table highlights individual companies that behave independently from NSP.
Best Diversifiers for NSP
4 ETFs have low correlation with NSP (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco NASDAQ 100 ETF (QQQM) (Nasdaq-100) with a 1Y correlation of 0.02, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco NASDAQ 100 ETF | 0.02 | 0.14 | 0.31 | 74 | Nasdaq-100 | NSP vs QQQM | |
| Invesco QQQ ETF | 0.02 | 0.14 | 0.31 | 73 | Nasdaq-100 | NSP vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.10 | 0.23 | 0.40 | 70 | S&P 500 | NSP vs SPY | |
| Vanguard S&P 500 ETF | 0.11 | 0.23 | 0.40 | 70 | S&P 500 | NSP vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NSP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NSP and solid risk/return profiles. The least correlated is Neurocrine Biosciences, Inc. (NBIX) (Healthcare) with a 1Y correlation of -0.03, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Neurocrine Biosciences, Inc. | -0.03 | 0.06 | 0.14 | 68 | Healthcare | |
| Preferred Bank | 0.24 | 0.30 | 0.39 | 57 | Financial Services |
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