Looking to diversify beyond NVDL? The ETFs below have historically moved differently from NVDL, 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 NVDL
697 ETFs have low correlation with NVDL (below 0.3), 176 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax MSTR Short Option Income Strategy ETF | -0.34 | — | — | 58 | Derivative Income | NVDL vs WNTR | |
| iShares Core High Dividend ETF | -0.28 | -0.11 | — | 87 | Dividend, Large Cap Value Equities | NVDL vs HDV | |
| First Trust Morningstar Dividend Leaders Index Fun... | -0.27 | -0.07 | — | 89 | Large Cap Value Equities, Dividend | NVDL vs FDL | |
| Parametric Equity Premium Income ETF | -0.22 | — | — | 62 | Derivative Income | NVDL vs PAPI | |
| FT Vest DJIA Dogs 10 Target Income ETF | -0.21 | -0.06 | -0.04 | 70 | Derivative Income | NVDL vs DOGG |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NVDL, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.34, down from -0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.34 | -0.23 | -0.20 | 63 | Consumer Defensive | |
| Colgate-Palmolive Company | -0.33 | -0.23 | -0.20 | 61 | Consumer Defensive | |
| Chubb Limited | -0.32 | -0.17 | -0.13 | 87 | Financial Services | |
| The Coca-Cola Company | -0.30 | -0.22 | -0.17 | 86 | Consumer Defensive | |
| Verizon Communications Inc. | -0.26 | -0.20 | -0.18 | 63 | Communication Services |
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