Looking to diversify beyond NVTX? The ETFs below have historically moved differently from NVTX, 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 NVTX
3 ETFs have low correlation with NVTX (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily AAPL Bull 2X Shares (AAPU) (Leveraged Equities) with a 1Y correlation of 0.13, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily AAPL Bull 2X Shares | 0.13 | 0.13 | 0.13 | 72 | Leveraged Equities | NVTX vs AAPU | |
| Direxion Daily GOOGL Bull 2X Shares | 0.23 | 0.23 | 0.23 | 89 | Leveraged Equities | NVTX vs GGLL | |
| Direxion Daily Pharmaceutical & Medical Bull 3X Sh... | 0.29 | 0.29 | 0.29 | 95 | Leveraged Equities | NVTX vs PILL | |
| MicroSectors U.S. Big Banks Index 3X Leveraged ETN... | 0.32 | 0.32 | 0.32 | 61 | Leveraged Equities | NVTX vs BNKU | |
| ProShares UltraPro Dow30 | 0.34 | 0.34 | 0.34 | 64 | Leveraged Equities | NVTX vs UDOW |
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