Looking to balance out your exposure to NVG? The ETFs below have historically moved differently from NVG, 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 NVG
2 ETFs have low correlation with NVG (below 0.3), 0 of which are negatively correlated. The least correlated is Janus Henderson AAA CLO ETF (JAAA) (CLO) with a 1Y correlation of 0.09, roughly unchanged from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Janus Henderson AAA CLO ETF | 0.09 | 0.10 | 0.11 | 99 | CLO | NVG vs JAAA | |
| iShares Interest Rate Hedged High Yield Bond ETF | 0.13 | 0.16 | 0.20 | 90 | High Yield Bonds, Corporate Bonds | NVG vs HYGH | |
| SPDR Portfolio High Yield Bond ETF | 0.39 | 0.42 | 0.40 | 72 | High Yield Bonds | NVG vs SPHY | |
| iShares High Yield Muni Active ETF | 0.41 | — | — | 67 | High Yield Muni | NVG vs HIMU | |
| State Street SPDR Nuveen ICE High Yield Municipal ... | 0.43 | 0.46 | 0.47 | 68 | Municipal Bonds | NVG vs HYMB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NVG, 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 ONEOK, Inc. (OKE) (Energy) with a 1Y correlation of -0.13, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ONEOK, Inc. | -0.13 | 0.06 | 0.12 | 64 | Energy | |
| New Jersey Resources Corporation | 0.05 | 0.19 | 0.18 | 88 | Utilities | |
| Cohen & Steers Infrastructure Fund, Inc | 0.16 | 0.29 | 0.30 | 72 | Financial Services | |
| Sterling Infrastructure, Inc. | 0.19 | 0.17 | 0.15 | 85 | Industrials | |
| Nuveen AMT-Free Quality Municipal Income Fund | 0.71 | 0.78 | 0.75 | 76 | Financial Services |
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