Looking to balance out your exposure to NWPX? The ETFs below have the lowest correlation with NWPX — they tend to move on their own, which can help reduce risk when NWPX drops. The stock ideas table highlights individual companies that behave independently from NWPX.
Best Diversifiers for NWPX
1 ETFs have low correlation with NWPX (below 0.3), 0 of which are negatively correlated. The least correlated is Breakwave Tanker Shipping ETF (BWET) (Commodities) with a 1Y correlation of 0.04, roughly unchanged from 0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Breakwave Tanker Shipping ETF | 0.04 | 0.03 | — | 99 | Commodities | NWPX vs BWET | |
| iShares MSCI Taiwan ETF | 0.39 | 0.35 | 0.32 | 92 | Taiwan Equities, Asia Pacific Equities | NWPX vs EWT | |
| Invesco QQQ ETF | 0.44 | 0.39 | 0.35 | 53 | Nasdaq-100 | NWPX vs QQQ | |
| VanEck Semiconductor ETF | 0.45 | 0.38 | 0.35 | 90 | Semiconductors, Technology Equities | NWPX vs SMH | |
| Schwab 1000 Index ETF | 0.49 | 0.48 | 0.44 | 64 | Large Cap Blend Equities | NWPX vs SCHK |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NWPX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NWPX and solid risk/return profiles. The least correlated is Colgate-Palmolive Company (CL) (Consumer Defensive) with a 1Y correlation of -0.01, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Colgate-Palmolive Company | -0.01 | 0.05 | 0.11 | 56 | Consumer Defensive | |
| Johnson & Johnson | 0.01 | 0.04 | 0.09 | 96 | Healthcare | |
| Halliburton Company | 0.10 | 0.23 | 0.27 | 88 | Energy | |
| Universal Technical Institute, Inc. | 0.11 | 0.23 | 0.24 | 61 | Consumer Defensive | |
| Nasdaq, Inc. | 0.12 | 0.23 | 0.25 | 51 | Financial Services |
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