Looking to balance out your exposure to NUE? The ETFs below have the lowest correlation with NUE — they tend to move on their own, which can help reduce risk when NUE drops. The stock ideas table highlights individual companies that behave independently from NUE.
Best Diversifiers for NUE
5 ETFs have low correlation with NUE (below 0.3), 2 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.08, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.08 | -0.05 | -0.01 | 100 | Government Bonds, Ultrashort Bond | NUE vs BIL | |
| iShares 0-1 Year Treasury Bond ETF | -0.05 | -0.03 | -0.02 | 100 | Government Bonds, Ultrashort Bond | NUE vs SHV | |
| JPMorgan Ultra-Short Income ETF | 0.15 | 0.08 | 0.04 | 99 | Ultrashort Bond | NUE vs JPST | |
| iShares Core High Dividend ETF | 0.24 | 0.35 | 0.41 | 64 | Dividend, Large Cap Value Equities | NUE vs HDV | |
| Invesco QQQ ETF | 0.29 | 0.33 | 0.38 | 73 | Nasdaq-100 | NUE vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NUE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NUE and solid risk/return profiles. The least correlated is Canadian Utilities Limited (CDUAF) (Utilities) with a 1Y correlation of -0.09, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Utilities Limited | -0.09 | 0.01 | 0.10 | 90 | Utilities | |
| Altria Group, Inc. | -0.07 | 0.05 | 0.16 | 69 | Consumer Defensive | |
| Walmart Inc. | -0.06 | 0.07 | 0.16 | 63 | Consumer Defensive | |
| Cardinal Health, Inc. | -0.05 | 0.09 | 0.20 | 68 | Healthcare | |
| Chubb Limited | -0.05 | 0.09 | 0.24 | 51 | Financial Services |
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