Looking to balance out your exposure to NXP? The ETFs below have the lowest correlation with NXP — they tend to move on their own, which can help reduce risk when NXP drops. The stock ideas table highlights individual companies that behave independently from NXP.
Best Diversifiers for NXP
7 ETFs have low correlation with NXP (below 0.3), 0 of which are negatively correlated. The least correlated is Virtus InfraCap U.S. Preferred Stock ETF (PFFA) (Preferred Stock/Convertible Bonds) with a 1Y correlation of 0.12, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Virtus InfraCap U.S. Preferred Stock ETF | 0.12 | 0.16 | 0.20 | 56 | Preferred Stock/Convertible Bonds | NXP vs PFFA | |
| Global X NASDAQ 100 Covered Call ETF | 0.15 | 0.14 | 0.17 | 88 | Nasdaq-100, Derivative Income | NXP vs QYLD | |
| SPDR Nuveen Bloomberg Barclays Short Term Municipa... | 0.21 | 0.22 | 0.23 | 75 | Municipal Bonds | NXP vs SHM | |
| VanEck Vectors High-Yield Municipal Index ETF | 0.21 | 0.26 | 0.28 | 59 | Municipal Bonds | NXP vs HYD | |
| SPDR Nuveen Bloomberg Barclays High Yield Municipa... | 0.26 | 0.29 | 0.28 | 53 | Municipal Bonds | NXP vs HYMB |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NXP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NXP and solid risk/return profiles. The least correlated is Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.06, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.06 | 0.07 | 0.10 | 85 | Energy | |
| Marathon Petroleum Corporation | 0.01 | 0.00 | 0.05 | 86 | Energy | |
| NVIDIA Corporation | 0.05 | 0.09 | 0.13 | 78 | Technology | |
| Reaves Utility Income Trust | 0.09 | 0.18 | 0.21 | 78 | Financial Services | |
| Apple Inc | 0.11 | 0.15 | 0.16 | 89 | Technology |
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