Looking to balance out your exposure to CAAP? The ETFs below have the lowest correlation with CAAP — they tend to move on their own, which can help reduce risk when CAAP drops. The stock ideas table highlights individual companies that behave independently from CAAP.
Best Diversifiers for CAAP
1 ETFs have low correlation with CAAP (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.19, down from -0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.19 | -0.11 | -0.08 | 100 | Ultrashort Bond | CAAP vs SGOV |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CAAP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CAAP and solid risk/return profiles. The least correlated is Centene Corporation (CNC) (Healthcare) with a 1Y correlation of 0.03, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Centene Corporation | 0.03 | 0.06 | 0.11 | 52 | Healthcare | |
| HCI Group, Inc. | 0.10 | 0.16 | 0.14 | 58 | Financial Services | |
| International Seaways, Inc. | 0.14 | 0.15 | 0.16 | 98 | Energy | |
| Virtu Financial, Inc. | 0.14 | 0.13 | 0.11 | 77 | Financial Services | |
| Clean Harbors, Inc. | 0.17 | 0.27 | 0.25 | 71 | Industrials |
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