Looking to balance out your exposure to CAKE? The ETFs below have the lowest correlation with CAKE — they tend to move on their own, which can help reduce risk when CAKE drops. The stock ideas table highlights individual companies that behave independently from CAKE.
Best Diversifiers for CAKE
5 ETFs have low correlation with CAKE (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.21, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.21 | 0.28 | 0.36 | 59 | Nasdaq-100 | CAKE vs QQQ | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.21 | 0.27 | 0.35 | 64 | Nasdaq-100, Derivative Income | CAKE vs JEPQ | |
| State Street SPDR S&P 500 ETF | 0.28 | 0.36 | 0.41 | 60 | S&P 500 | CAKE vs SPY | |
| Vanguard S&P 500 ETF | 0.29 | 0.36 | 0.41 | 60 | S&P 500 | CAKE vs VOO | |
| NEOS S&P 500 High Income ETF | 0.29 | 0.34 | 0.37 | 60 | Derivative Income, S&P 500 | CAKE vs SPYI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CAKE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CAKE and solid risk/return profiles. The least correlated is CrowdStrike Holdings, Inc. (CRWD) (Technology) with a 1Y correlation of -0.06, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CrowdStrike Holdings, Inc. | -0.06 | 0.10 | 0.21 | 66 | Technology | |
| Altria Group, Inc. | -0.04 | 0.07 | 0.12 | 74 | Consumer Defensive | |
| Skeena Resources Ltd | -0.04 | 0.09 | 0.10 | 74 | Basic Materials | |
| Alliance Entertainment Holding Corporation Class A... | -0.03 | 0.04 | 0.04 | 69 | Communication Services | |
| Halliburton Company | 0.03 | 0.15 | 0.20 | 86 | Energy |
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Build a portfolio that complements CAKE
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