Looking to balance out your exposure to NXP? The ETFs below have historically moved differently from NXP, 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 NXP
2 ETFs have low correlation with NXP (below 0.3), 0 of which are negatively correlated. The least correlated is Global X NASDAQ 100 Covered Call ETF (QYLD) (Nasdaq-100) with a 1Y correlation of 0.13, roughly unchanged from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X NASDAQ 100 Covered Call ETF | 0.13 | 0.13 | 0.17 | 83 | Nasdaq-100, Derivative Income | NXP vs QYLD | |
| VanEck High Yield Muni ETF | 0.28 | 0.27 | 0.29 | 59 | Municipal Bonds | NXP vs HYD | |
| State Street SPDR Nuveen ICE High Yield Municipal ... | 0.32 | 0.30 | 0.29 | 65 | Municipal Bonds | NXP vs HYMB | |
| Invesco New York AMT-Free Municipal Bond ETF | 0.32 | 0.28 | 0.27 | 60 | Municipal Bonds | NXP vs PZT | |
| iShares High Yield Muni Active ETF | 0.32 | — | — | 68 | High Yield Muni | NXP vs HIMU |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NXP, 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 Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.09, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.09 | 0.06 | 0.09 | 88 | Energy | |
| Marathon Petroleum Corporation | -0.02 | -0.01 | 0.04 | 94 | Energy | |
| Reaves Utility Income Trust | 0.06 | 0.17 | 0.20 | 52 | Financial Services | |
| NVIDIA Corporation | 0.08 | 0.10 | 0.13 | 59 | Technology | |
| Cohen & Steers Infrastructure Fund, Inc | 0.14 | 0.20 | 0.22 | 68 | Financial Services |
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