Looking to balance out your exposure to CALX? The ETFs below have the lowest correlation with CALX — they tend to move on their own, which can help reduce risk when CALX drops. The stock ideas table highlights individual companies that behave independently from CALX.
Best Diversifiers for CALX
0 ETFs have low correlation with CALX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.41, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.41 | 0.45 | 0.52 | 70 | S&P 500 | CALX vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CALX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CALX and solid risk/return profiles. The least correlated is Palo Alto Networks, Inc. (PANW) (Technology) with a 1Y correlation of 0.12, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Palo Alto Networks, Inc. | 0.12 | 0.18 | 0.30 | 67 | Technology | |
| Apple Inc | 0.13 | 0.21 | 0.30 | 89 | Technology | |
| Fortinet, Inc. | 0.16 | 0.24 | 0.37 | 66 | Technology | |
| Enphase Energy, Inc. | 0.21 | 0.26 | 0.37 | 65 | Technology | |
| InterDigital, Inc. | 0.28 | 0.31 | 0.37 | 51 | Communication Services |
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