Looking to balance out your exposure to NTAP? The ETFs below have the lowest correlation with NTAP — they tend to move on their own, which can help reduce risk when NTAP drops. The stock ideas table highlights individual companies that behave independently from NTAP.
Best Diversifiers for NTAP
0 ETFs have low correlation with NTAP (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.37, down from 0.61 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.37 | 0.52 | 0.61 | 94 | Semiconductors, Technology Equities | NTAP vs SMH | |
| Vanguard S&P 500 ETF | 0.45 | 0.57 | 0.63 | 60 | S&P 500 | NTAP vs VOO | |
| State Street SPDR S&P 500 ETF | 0.45 | 0.57 | 0.63 | 60 | S&P 500 | NTAP vs SPY | |
| Invesco QQQ ETF | 0.46 | 0.56 | 0.60 | 59 | Nasdaq-100 | NTAP vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NTAP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NTAP and solid risk/return profiles. The least correlated is RenaissanceRe Holdings Ltd. (RNR) (Financial Services) with a 1Y correlation of -0.13, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RenaissanceRe Holdings Ltd. | -0.13 | 0.04 | 0.09 | 77 | Financial Services | |
| Johnson & Johnson | -0.10 | -0.07 | 0.03 | 96 | Healthcare | |
| Verizon Communications Inc. | -0.09 | -0.02 | 0.08 | 62 | Communication Services | |
| Walmart Inc. | -0.01 | 0.11 | 0.19 | 70 | Consumer Defensive | |
| RTX Corporation | -0.01 | 0.09 | 0.22 | 76 | Industrials |
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