Looking to balance out your exposure to RNP? The ETFs below have the lowest correlation with RNP — they tend to move on their own, which can help reduce risk when RNP drops. The stock ideas table highlights individual companies that behave independently from RNP.
Best Diversifiers for RNP
6 ETFs have low correlation with RNP (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.18, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.18 | 0.24 | 0.35 | 73 | Nasdaq-100 | RNP vs QQQ | |
| NEOS Nasdaq-100 High Income ETF | 0.18 | 0.24 | 0.24 | 68 | Nasdaq-100, Derivative Income | RNP vs QQQI | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.21 | 0.28 | — | 74 | Nasdaq-100, Derivative Income | RNP vs JEPQ | |
| AAM Low Duration Preferred and Income Securities E... | 0.22 | 0.38 | 0.41 | 60 | Preferred Stock/Convertible Bonds | RNP vs PFLD | |
| Global X NASDAQ 100 Covered Call ETF | 0.25 | 0.30 | 0.41 | 88 | Nasdaq-100, Derivative Income | RNP vs QYLD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RNP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RNP and solid risk/return profiles. The least correlated is Energy Transfer LP (ET) (Energy) with a 1Y correlation of 0.02, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | 0.02 | 0.24 | 0.30 | 69 | Energy | |
| Enterprise Products Partners L.P. | 0.08 | 0.27 | 0.30 | 85 | Energy | |
| BlackRock Science and Technology Trust | 0.17 | 0.28 | 0.40 | 88 | Financial Services | |
| Nuveen Quality Municipal Income Fund | 0.32 | 0.39 | 0.37 | 75 | Financial Services | |
| Bank of America Corporation | 0.34 | 0.43 | 0.41 | 64 | Financial Services |
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