Overview Performance Metrics Financials ETFs Industry Correlations

21 Stocks and 79 ETFs for diversifying Novanta (NOVT)

The least correlated asset to Novanta (NOVT) is ETF MUD (Direxion Daily MU Bear 1X Shares). The correlation is -0.7807.

Stocks that lowly correlated with NOVT

Symbol	Name	Market cap	Sector	Industry	Correlation
AII	American Integrity Insurance Group Inc	$358M	Financial Services	Insurance - Property & Casualty	-0.74
APAD	Enhanced Group Inc - Class A	$161M	Financial Services	Shell Companies	-0.63
QETAR	Quetta Acquisition Corp	$1.43M	N/A	N/A	-0.59
APADU	A Paradise Acquisition Corp Unit	$67M	Financial Services	Shell Companies	-0.56
DGNX	Diginex Ltd	$28M	Industrials	Consulting Services	-0.54
GIG	GigCapital7 Corp - Class A	$353M	Financial Services	Shell Companies	-0.51
MENS	Jyong Biotech Ltd	$174M	Healthcare	Biotechnology	-0.51
TMDE	TMD Energy Ltd	$21M	Energy	Oil & Gas Midstream	-0.49
CDTG	CDT Environmental Technology Investment Holdings Ltd	$3.77M	Industrials	Waste Management	-0.48
EMPG	Empro Group Inc	$139M	Healthcare	Medical Distribution	-0.46
LHAI	Linkhome Holdings Inc	$19M	Real Estate	Real Estate Services	-0.46
PVLA	Palvella Therapeutics Inc	$2.18B	Healthcare	Biotechnology	-0.45
WAY	Waystar Holding Corp	$4.35B	Healthcare	Health Information Services	-0.40
GLIBK	GCI Liberty Inc	$877M	Communication Services	Telecom Services	-0.40
SOCAU	Solarius Capital Acquisition Corp Units	$179M	Financial Services	Shell Companies	-0.40
SAFX	XCF Global Inc	$145M	Utilities	Utilities - Renewable	-0.40
CLIK	Click Holdings Ltd	$4.19M	Consumer Cyclical	Personal Services	-0.39
MOBX	Mobix Labs Inc - Class A	$20M	Technology	Semiconductors	-0.39
NAMI	Jinxin Technology Holding Company	$7.41M	Communication Services	Internet Content & Information	-0.38
VSTA	Vasta Platform Ltd Class A	$394M	Consumer Defensive	Education & Training Services	-0.38
PMI	Picard Medical Inc	$11M	Healthcare	Medical Devices	-0.38

ETFs that lowly correlated with NOVT

Symbol	Name	AUM	Expense Ratio	Inception Date	Correlation
MUD	Direxion Daily MU Bear 1X Shares	$76M	1.02%	Oct 9, 2024	-0.78
NFLW	ROUNDHILL NFLX WEEKLYPAY ETF	$6.70M	N/A	Jun 17, 2025	-0.76
MYY	PROSHARES SHORT MIDCAP400	$2.90M	0.95%	Jun 19, 2006	-0.67
RWM	PROSHARES SHORT RUSSELL2000	$113M	0.95%	Jan 23, 2007	-0.67
TWM	ProShares UltraShort Russell2000 -2x Shares	$38M	N/A	Jan 23, 2007	-0.67
MZZ	PROSHARES ULTRASHORT MIDCAP400	$2.40M	N/A	Jul 11, 2006	-0.66
CSCS	Direxion Daily CSCO Bear 1X ETF	$1.70M	1.00%	Jun 24, 2025	-0.66
SH	ProShares Short S&P500 -1x Shares	$973M	0.89%	Jun 19, 2006	-0.65
SDS	ProShares UltraShort S&P500 -2x Shares	$398M	N/A	Jul 11, 2006	-0.65
SPDN	DIREXION DAILY S&P 500 (R) BEAR 1X SHARES	$195M	0.48%	Jun 8, 2016	-0.65
SBB	ProShares Short SmallCap600 -1x Shares	$3.30M	0.95%	Jan 23, 2007	-0.65
HIBS	Direxion Daily S&P 500 High Beta Bear 3X Shares	$17M	N/A	Nov 7, 2019	-0.65
SIJ	ProShares UltraShort Industrials -2x Shares	$5.50M	N/A	Jan 30, 2007	-0.64
DOG	PROSHARES SHORT DOW30	$111M	0.95%	Jun 19, 2006	-0.64
DXD	PROSHARES ULTRASHORT DOW30	$46M	N/A	Jul 11, 2006	-0.63
TSMZ	DIREXION DAILY TSM BEAR 1X SHARES	$2.80M	1.01%	Oct 2, 2024	-0.63
PSQ	ProShares Short QQQ -1x Shares	$601M	0.95%	Jun 19, 2006	-0.63
SDD	PROSHARES ULTRASHORT SMALLCAP600	$1.20M	N/A	Jan 23, 2007	-0.63
DWSH	ADVISORSHARES DORSEY WRIGHT SHORT ETF	$11M	6.22%	Jul 10, 2018	-0.62
SDOW	ProShares UltraPro Short Dow30 -3x Shares	$185M	N/A	Feb 9, 2010	-0.62
EFZ	ProShares Short MSCI EAFE -1X Shares	$12M	0.95%	Oct 23, 2007	-0.61
EFU	ProShares UltraShort MSCI EAFE -2x Shares	$1.20M	N/A	Oct 23, 2007	-0.60
EWV	ProShares UltraShort MSCI Japan -2x Shares	$5.70M	N/A	Nov 6, 2007	-0.60
HDGE	ADVISORSHARES RANGER EQUITY BEAR ETF	$66M	3.62%	Jan 26, 2011	-0.60
SMN	ProShares UltraShort Materials	$4.10M	N/A	Jan 30, 2007	-0.58
EMTY	ProShares Decline of the Retail Store ETF -1x Shares	$3M	0.65%	Nov 14, 2017	-0.58
SJB	PROSHARES SHORT HIGH YIELD	$56M	0.95%	Mar 21, 2011	-0.57
EPV	ProShares UltraShort FTSE Europe -2X Shares	$13M	N/A	Jun 16, 2009	-0.57
REK	PROSHARES SHORT REAL ESTATE	$9.80M	0.95%	Mar 16, 2010	-0.57
EUM	ProShares Short MSCI Emerging Markets -1x Shares	$9.80M	0.95%	Oct 30, 2007	-0.57
EEV	ProShares UltraShort MSCI Emerging Markets -2x Shares	$2.60M	N/A	Oct 30, 2007	-0.57
SEF	ProShares Short Financials -1x Shares	$14M	0.95%	Jun 10, 2008	-0.56
SRS	ProShares UltraShort Real Estate -2x Shares	$16M	N/A	Jan 30, 2007	-0.56
PDDL	GRANITESHARES 2X LONG PDD DAILY ETF	$7.60M	N/A	Jul 14, 2025	-0.56
UVIX	2x Long VIX Futures ETF	$290M	N/A	Mar 28, 2022	-0.56
BNKD	Bank of Montreal	$1.10M	N/A	Feb 20, 2025	-0.55
SKF	ProShares UltraShort Financials -2x Shares	$11M	N/A	May 23, 2007	-0.55
SMDD	ProShares UltraPro Short MidCap400 -3x Shares	$1.90M	N/A	Feb 9, 2010	-0.55
LABD	DIREXION DAILY S&P BIOTECH BEAR 3X SHARES DIREXION DAILY S&AMP;P BIOTECH BEAR 3X SHARES	$69M	N/A	May 28, 2015	-0.55
YQQQ	YIELDMAX(R) SHORT N100 OPTION INCOME STRATEGY ETF	$16M	1.11%	Aug 14, 2024	-0.54
AMDD	T-REX 2X INVERSE AMD DAILY TARGET ETF	$16M	1.03%	Feb 11, 2025	-0.54
REW	ProShares UltraShort Technology -2x Shares	$2.80M	N/A	Jan 30, 2007	-0.54
QCMD	Direxion Daily QCOM Bear 1X ETF	$1.70M	1.00%	Jun 24, 2025	-0.53
SCC	ProShares UltraShort Consumer Discretionary	$6.80M	N/A	Jan 30, 2007	-0.53
WEBS	DIREXION DAILY DOW JONES INTERNET BEAR 3X SHARES	$8.70M	N/A	Nov 7, 2019	-0.53
SZK	ProShares UltraShort Consumer Staples	$4.70M	N/A	Jan 30, 2007	-0.52
RISR	FOLIOBEYOND ALTERNATIVE INCOME AND INTEREST RATE HEDGE ETF	$274M	1.04%	Sep 30, 2021	-0.52
EDZ	DIREXION DAILY MSCI EMERGING MARKETS BEAR 3X SHARES	$14M	N/A	Dec 17, 2008	-0.51
SPXU	ProShares UltraPro Short S&P 500	$427M	N/A	Jun 23, 2009	-0.50
LDRT	ISHARES IBONDS 1-5 YEAR TREASURY LADDER ETF	$132M	0.07%	Nov 7, 2024	-0.50
RBLY	YIELDMAX(R) RBLX OPTION INCOME STRATEGY ETF	$2.40M	0.99%	Jul 28, 2025	-0.50
SKRE	TUTTLE CAPITAL DAILY 2X INVERSE REGIONAL BANKS ETF	$5.20M	N/A	Jan 3, 2024	-0.50
TAIL	CAMBRIA TAIL RISK ETF	$147M	0.59%	Apr 5, 2017	-0.49
SHPU	DIREXION DAILY SHOP BULL 2X ETF	$15M	N/A	Aug 5, 2025	-0.48
BTAL	AGF U.S. MARKET NEUTRAL ANTI-BETA FUND	$283M	1.40%	Sep 13, 2011	-0.48
SHRT	GOTHAM SHORT STRATEGIES ETF	$14M	1.35%	Jul 31, 2017	-0.48
RXD	ProShares UltraShort Health Care -2x Shares	$3.20M	N/A	Jan 30, 2007	-0.48
BIS	ProShares UltraShort Nasdaq Biotechnology -2x Shares	$2.20M	N/A	Apr 6, 2010	-0.47
QID	PROSHARES ULTRASHORT QQQ	$233M	N/A	Jul 11, 2006	-0.46
NVDS	Tradr 1.5X Short NVDA Daily ETF	$18M	N/A	Jul 13, 2022	-0.46
VIXM	ProShares VIX Mid-Term Futures ETF	$40M	0.92%	Jan 3, 2011	-0.45
SARK	TRADR 1X SHORT INNOVATION DAILY ETF	$43M	0.92%	Nov 5, 2021	-0.44
PLTG	LEVERAGE SHARES 2X LONG PLTR DAILY ETF	$23M	N/A	Apr 24, 2025	-0.43
SLTY	YIELDMAX(R) ULTRA SHORT OPTION INCOME STRATEGY ETF	$19M	1.25%	Aug 20, 2025	-0.43
SMCZ	DEFIANCE DAILY TARGET 2X SHORT SMCI ETF	$13M	N/A	Mar 31, 2025	-0.43
DRV	DIREXION DAILY REAL ESTATE BEAR 3X SHARES	$29M	N/A	Jul 16, 2009	-0.43
WZRD	Opportunistic Trader ETF	$976K	1.00%	Jun 24, 2025	-0.43
LDDR	Stone Ridge 2035 Term Income ETF	$42M	0.25%	Jan 3, 2025	-0.43
GGOV	iShares Global Government Bond USD Hedged Active	$2.90B	0.39%	Jun 25, 2025	-0.42
VXZ	iPath Series B S&P 500 VIX Mid-Term Futures ETN	$35M	0.89%	Jan 17, 2018	-0.42
QBER	TRUESHARES QUARTERLY BEAR HEDGE ETF	$82M	0.79%	Jun 28, 2024	-0.42
AIBD	Direxion Daily AI and Big Data Bear 2X ETF	$4.70M	N/A	May 15, 2024	-0.41
PFIX	SIMPLIFY INTEREST RATE HEDGE ETF	$176M	0.50%	May 10, 2021	-0.40
FPAS	FPA SHORT DURATION GOVERNMENT ETF	$9.90M	0.10%	Oct 31, 2024	-0.40
NFXL	DIREXION DAILY NFLX BULL 2X SHARES	$141M	N/A	Oct 2, 2024	-0.40
NFLU	T-REX 2X LONG NFLX DAILY TARGET ETF	$46M	N/A	Sep 26, 2024	-0.39
AAPD	DIREXION DAILY AAPL BEAR 1X SHARES	$14M	0.96%	Aug 8, 2022	-0.39
CRCG	LEVERAGE SHARES 2X LONG CRCL DAILY ETF	$67M	N/A	Aug 8, 2025	-0.38
CCUP	T-REX 2X LONG CRCL DAILY TARGET ETF	$25M	N/A	Aug 8, 2025	-0.38