Looking to diversify beyond NYM? The ETFs below have the lowest correlation with NYM — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from NYM.
Best Diversifiers for NYM
590 ETFs have low correlation with NYM (below 0.3), 49 of which are negatively correlated. The least correlated is First Trust Energy AlphaDEX Fund (FXN) (Energy Equities) with a 1Y correlation of -0.24, roughly unchanged from -0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Energy AlphaDEX Fund | -0.24 | -0.24 | -0.24 | 67 | Energy Equities | NYM vs FXN | |
| Fidelity MSCI Energy Index ETF | -0.22 | -0.22 | -0.22 | 64 | Energy Equities | NYM vs FENY | |
| iShares U.S. Energy ETF | -0.21 | -0.21 | -0.21 | 63 | Energy Equities | NYM vs IYE | |
| iShares Commodities Select Strategy ETF | -0.21 | -0.21 | -0.21 | 71 | Commodities | NYM vs COMT | |
| iShares Global Energy ETF | -0.20 | -0.20 | -0.20 | 76 | Energy Equities | NYM vs IXC |
See all 1132 diversifiers for NYM
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