Looking to diversify beyond NUDM? The ETFs below have historically moved differently from NUDM, 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 NUDM
137 ETFs have low correlation with NUDM (below 0.3), 42 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.41, down from -0.30 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.41 | -0.30 | — | 61 | Cryptocurrency | NUDM vs BITI | |
| Invesco DB Energy Fund | -0.38 | -0.14 | 0.03 | 72 | Oil & Gas | NUDM vs DBE | |
| United States Brent Oil Fund LP | -0.36 | -0.13 | 0.03 | 52 | Oil & Gas | NUDM vs BNO | |
| Invesco DB Oil Fund | -0.33 | -0.12 | 0.05 | 58 | Oil & Gas | NUDM vs DBO | |
| Alpha Architect Tail Risk ETF | -0.31 | -0.06 | — | 56 | Options Trading | NUDM vs CAOS |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NUDM, 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 Novartis AG (NVS) (Healthcare) with a 1Y correlation of 0.42, roughly unchanged from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Novartis AG | 0.42 | 0.41 | 0.42 | 89 | Healthcare |
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