Looking to balance out your exposure to NVMI? The ETFs below have historically moved differently from NVMI, 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 NVMI
1 ETFs have low correlation with NVMI (below 0.3), 0 of which are negatively correlated. The least correlated is Amplify CWP Enhanced Dividend Income ETF (DIVO) (Derivative Income) with a 1Y correlation of 0.28, roughly unchanged from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Amplify CWP Enhanced Dividend Income ETF | 0.28 | 0.31 | 0.37 | 84 | Derivative Income | NVMI vs DIVO | |
| State Street SPDR Dow Jones Industrial Average ETF... | 0.41 | 0.37 | 0.44 | 78 | Large Cap Blend Equities | NVMI vs DIA | |
| Vanguard Mid-Cap ETF | 0.51 | 0.47 | 0.54 | 60 | Mid Cap Blend Equities | NVMI vs VO | |
| Vanguard Small-Cap ETF | 0.59 | 0.50 | 0.55 | 77 | Small Cap Blend Equities | NVMI vs VB | |
| Nomura Focused Emerging Markets Equity ETF | 0.64 | — | — | 92 | Emerging Markets Equities | NVMI vs EMEQ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NVMI, 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 Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.20, down from -0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.20 | -0.21 | -0.05 | 62 | Financial Services | |
| Smithfield Foods, Inc | -0.19 | -0.07 | -0.07 | 57 | Consumer Defensive | |
| Murphy USA Inc. | -0.14 | -0.03 | 0.04 | 87 | Consumer Cyclical | |
| Berkshire Hathaway Inc. | -0.13 | 0.05 | 0.18 | 61 | Financial Services | |
| Exxon Mobil Corporation | -0.12 | -0.04 | 0.06 | 85 | Energy |
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