Looking to balance out your exposure to NVS? The ETFs below have historically moved differently from NVS, 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 NVS
15 ETFs have low correlation with NVS (below 0.3), 4 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.07, roughly unchanged from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.07 | -0.03 | 0.01 | 100 | Ultrashort Bond | NVS vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.04 | -0.05 | -0.01 | 100 | Government Bonds, Ultrashort Bond | NVS vs BIL | |
| ProShares High Yield-Interest Rate Hedged | -0.02 | 0.05 | 0.12 | 62 | High Yield Bonds | NVS vs HYHG | |
| Invesco S&P 500 Momentum ETF | -0.01 | 0.07 | 0.20 | 50 | Momentum, S&P 500 | NVS vs SPMO | |
| Xtrackers Semiconductor Select Equity ETF | 0.05 | 0.07 | — | 93 | Semiconductors, Technology Equities | NVS vs CHPS |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NVS, 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 HF Sinclair Corp (DINO) (Energy) with a 1Y correlation of -0.18, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| HF Sinclair Corp | -0.18 | -0.01 | 0.05 | 95 | Energy | |
| Broadcom Inc. | -0.10 | -0.05 | 0.04 | 69 | Technology | |
| NVIDIA Corporation | -0.09 | -0.06 | 0.03 | 59 | Technology | |
| Chevron Corporation | -0.08 | 0.03 | 0.10 | 76 | Energy | |
| Ondas Holdings Inc. | -0.08 | -0.03 | 0.00 | 88 | Technology |
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