Looking to diversify beyond NUGT? The ETFs below have the lowest correlation with NUGT — 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 NUGT.
Best Diversifiers for NUGT
681 ETFs have low correlation with NUGT (below 0.3), 42 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.24, roughly unchanged from -0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.24 | -0.26 | -0.32 | 61 | Leveraged Currency | NUGT vs YCS | |
| Invesco DB Energy Fund | -0.21 | 0.01 | 0.11 | 71 | Oil & Gas | NUGT vs DBE | |
| United States Oil Fund LP | -0.20 | 0.03 | 0.12 | 66 | Oil & Gas | NUGT vs USO | |
| United States Brent Oil Fund LP | -0.20 | 0.03 | 0.11 | 65 | Oil & Gas | NUGT vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.18 | — | — | 56 | Derivative Income | NUGT vs USOY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NUGT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NUGT and solid risk/return profiles. The least correlated is CrowdStrike Holdings, Inc. (CRWD) (Technology) with a 1Y correlation of 0.12, roughly unchanged from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CrowdStrike Holdings, Inc. | 0.12 | 0.13 | 0.14 | 70 | Technology | |
| AppLovin Corporation | 0.13 | 0.15 | 0.15 | 59 | Technology | |
| First Majestic Silver Corp. | 0.81 | 0.79 | 0.81 | 87 | Basic Materials |
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