Looking to balance out your exposure to NXST? The ETFs below have historically moved differently from NXST, 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 NXST
1 ETFs have low correlation with NXST (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.06, down from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.06 | 0.21 | 0.31 | 58 | Nasdaq-100 | NXST vs QQQ |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for NXST, 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 Applied Materials, Inc. (AMAT) (Technology) with a 1Y correlation of -0.09, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Applied Materials, Inc. | -0.09 | 0.10 | 0.25 | 95 | Technology | |
| Bancolombia S.A. | -0.08 | 0.15 | 0.22 | 96 | Financial Services | |
| Eli Lilly and Company | -0.07 | -0.00 | 0.02 | 79 | Healthcare | |
| KLA Corporation | -0.05 | 0.13 | 0.27 | 86 | Technology | |
| Walmart Inc. | -0.05 | 0.01 | 0.08 | 60 | Consumer Defensive |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements NXST
Add NXST to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with NXST