Looking to diversify beyond NVDL? The ETFs below have the lowest correlation with NVDL — 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 NVDL.
Best Diversifiers for NVDL
800 ETFs have low correlation with NVDL (below 0.3), 183 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.33 | — | — | 61 | Inverse Equities, Leveraged Equities | NVDL vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.33 | — | — | 69 | Derivative Income | NVDL vs WNTR | |
| iShares Core High Dividend ETF | -0.27 | -0.11 | — | 81 | Dividend, Large Cap Value Equities | NVDL vs HDV | |
| Franklin U.S. Low Volatility High Dividend Index E... | -0.27 | -0.13 | — | 53 | Dividend | NVDL vs LVHD | |
| First Trust Morningstar Dividend Leaders Index Fun... | -0.26 | -0.06 | — | 82 | Large Cap Value Equities, Dividend | NVDL vs FDL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NVDL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NVDL and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.37, down from -0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.37 | -0.29 | -0.24 | 63 | Utilities | |
| Waste Management, Inc. | -0.33 | -0.12 | -0.09 | 51 | Industrials | |
| Colgate-Palmolive Company | -0.33 | -0.23 | -0.20 | 52 | Consumer Defensive | |
| Altria Group, Inc. | -0.33 | -0.22 | -0.20 | 77 | Consumer Defensive | |
| Chubb Limited | -0.32 | -0.17 | -0.12 | 81 | Financial Services |
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