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
424 ETFs have low correlation with NUGT (below 0.3), 41 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.29, down from -0.16 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.29 | -0.16 | — | 53 | Cryptocurrency | NUGT vs BITI | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.28 | — | — | 65 | Inverse Equities, Leveraged Equities | NUGT vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.26 | — | — | 70 | Derivative Income | NUGT vs WNTR | |
| Invesco DB Energy Fund | -0.24 | -0.01 | 0.10 | 57 | Oil & Gas | NUGT vs DBE | |
| ProShares UltraShort Yen | -0.22 | -0.26 | -0.33 | 72 | Leveraged Currency | NUGT vs YCS |
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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 | 83 | Technology | |
| AppLovin Corporation | 0.14 | 0.15 | 0.16 | 58 | Communication Services | |
| Celestica Inc. | 0.32 | 0.20 | 0.22 | 85 | Technology | |
| Comfort Systems USA, Inc. | 0.35 | 0.24 | 0.23 | 98 | Industrials | |
| First Majestic Silver Corp. | 0.85 | 0.79 | 0.81 | 76 | Basic Materials |
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