Looking to balance out your exposure to NVG? The ETFs below have the lowest correlation with NVG — they tend to move on their own, which can help reduce risk when NVG drops. The stock ideas table highlights individual companies that behave independently from NVG.
Best Diversifiers for NVG
1 ETFs have low correlation with NVG (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Interest Rate Hedged High Yield Bond ETF (HYGH) (High Yield Bonds) with a 1Y correlation of 0.10, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Interest Rate Hedged High Yield Bond ETF | 0.10 | 0.17 | 0.20 | 73 | High Yield Bonds | NVG vs HYGH | |
| SPDR Portfolio High Yield Bond ETF | 0.34 | 0.41 | 0.39 | 62 | High Yield Bonds | NVG vs SPHY | |
| SPDR Nuveen Bloomberg Barclays High Yield Municipa... | 0.45 | 0.46 | 0.46 | 53 | Municipal Bonds | NVG vs HYMB | |
| Invesco National AMT-Free Municipal Bond ETF | 0.48 | 0.51 | 0.47 | 64 | Municipal Bonds | NVG vs PZA | |
| Vanguard Tax-Exempt Bond ETF | 0.53 | 0.56 | 0.53 | 72 | Municipal Bonds | NVG vs VTEB |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NVG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NVG and solid risk/return profiles. The least correlated is New Jersey Resources Corporation (NJR) (Utilities) with a 1Y correlation of 0.11, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| New Jersey Resources Corporation | 0.11 | 0.19 | 0.19 | 75 | Utilities | |
| Cohen & Steers Infrastructure Fund, Inc | 0.19 | 0.28 | 0.31 | 63 | Financial Services | |
| Sterling Construction Company, Inc. | 0.20 | 0.18 | 0.16 | 97 | Industrials | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.72 | 0.78 | 0.75 | 78 | Financial Services |
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