Looking to balance out your exposure to NVS? The ETFs below have the lowest correlation with NVS — they tend to move on their own, which can help reduce risk when NVS drops. The stock ideas table highlights individual companies that behave independently from NVS.
Best Diversifiers for NVS
10 ETFs have low correlation with NVS (below 0.3), 2 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.11, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.11 | -0.03 | 0.01 | 100 | Ultrashort Bond | NVS vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.04 | -0.03 | -0.00 | 100 | Government Bonds, Ultrashort Bond | NVS vs BIL | |
| Invesco S&P 500 Momentum ETF | 0.07 | 0.11 | 0.23 | 75 | Momentum, S&P 500 | NVS vs SPMO | |
| iShares 0-5 Year TIPS Bond ETF | 0.10 | 0.10 | 0.13 | 93 | Inflation-Protected Bonds | NVS vs STIP | |
| iShares Floating Rate Bond ETF | 0.13 | 0.11 | 0.10 | 98 | Corporate Bonds | NVS vs FLOT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NVS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NVS and solid risk/return profiles. The least correlated is HF Sinclair Corp (DINO) (Energy) with a 1Y correlation of -0.17, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| HF Sinclair Corp | -0.17 | -0.01 | 0.06 | 92 | Energy | |
| Chevron Corporation | -0.10 | 0.05 | 0.11 | 83 | Energy | |
| Oracle Corporation | -0.10 | 0.03 | 0.12 | 58 | Technology | |
| Equinor ASA | -0.09 | 0.06 | 0.09 | 82 | Energy | |
| Exxon Mobil Corporation | -0.09 | 0.06 | 0.11 | 85 | Energy |
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