Looking to balance out your exposure to NVGS? The ETFs below have the lowest correlation with NVGS — they tend to move on their own, which can help reduce risk when NVGS drops. The stock ideas table highlights individual companies that behave independently from NVGS.
Best Diversifiers for NVGS
2 ETFs have low correlation with NVGS (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) (Commodities) with a 1Y correlation of 0.15, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Optimum Yield Diversified Commodity Strate... | 0.15 | 0.27 | 0.33 | 74 | Commodities | NVGS vs PDBC | |
| State Street Energy Select Sector SPDR ETF | 0.22 | 0.36 | 0.47 | 63 | Energy Equities | NVGS vs XLE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NVGS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NVGS and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.08, roughly unchanged from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.08 | -0.02 | -0.00 | 53 | Utilities | |
| Cboe Global Markets, Inc. | 0.01 | -0.03 | 0.08 | 68 | Financial Services | |
| Rentokil Initial PLC | 0.04 | 0.12 | 0.11 | 68 | Industrials | |
| Prysmian SPA ADR | 0.06 | 0.18 | 0.22 | 97 | Industrials | |
| Ormat Technologies, Inc. | 0.08 | 0.16 | 0.17 | 92 | Utilities |
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