Looking to balance out your exposure to NVAX? The ETFs below have the lowest correlation with NVAX — they tend to move on their own, which can help reduce risk when NVAX drops. The stock ideas table highlights individual companies that behave independently from NVAX.
Best Diversifiers for NVAX
2 ETFs have low correlation with NVAX (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GraniteShares 2x Long AMD Daily ETF | 0.25 | — | — | 96 | Leveraged Equities | NVAX vs AMDL | |
| Schwab U.S. Dividend Equity ETF | 0.29 | 0.30 | 0.28 | 80 | Dividend | NVAX vs SCHD | |
| Invesco QQQ ETF | 0.41 | 0.30 | 0.36 | 73 | Nasdaq-100 | NVAX vs QQQ | |
| Vanguard Total International Stock ETF | 0.46 | 0.38 | 0.36 | 60 | Global Equities | NVAX vs VXUS | |
| State Street SPDR S&P 500 ETF | 0.46 | 0.34 | 0.35 | 70 | S&P 500 | NVAX vs SPY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NVAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NVAX and solid risk/return profiles. The least correlated is Energy Transfer LP (ET) (Energy) with a 1Y correlation of 0.01, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | 0.01 | 0.14 | 0.16 | 69 | Energy | |
| Zoom Video Communications, Inc. | 0.14 | 0.24 | 0.34 | 64 | Communication Services | |
| Monarch Casino & Resort, Inc. | 0.14 | 0.17 | 0.20 | 80 | Consumer Cyclical | |
| NVIDIA Corporation | 0.15 | 0.15 | 0.26 | 78 | Technology | |
| Datadog, Inc. | 0.18 | 0.17 | 0.28 | 81 | Technology |
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