Looking to balance out your exposure to CALY? The ETFs below have the lowest correlation with CALY — they tend to move on their own, which can help reduce risk when CALY drops. The stock ideas table highlights individual companies that behave independently from CALY.
Best Diversifiers for CALY
8 ETFs have low correlation with CALY (below 0.3), 4 of which are negatively correlated. The least correlated is WisdomTree Floating Rate Treasury Fund (USFR) (Government Bonds) with a 1Y correlation of -0.09, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree Floating Rate Treasury Fund | -0.09 | -0.06 | -0.02 | 100 | Government Bonds, Ultrashort Bond | CALY vs USFR | |
| iShares 0-3 Month Treasury Bond ETF | -0.05 | -0.06 | -0.04 | 100 | Ultrashort Bond | CALY vs SGOV | |
| Alpha Architect 1-3 Month Box ETF | -0.04 | -0.04 | — | 100 | Ultrashort Bond | CALY vs BOXX | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.00 | 0.04 | 0.10 | 93 | Inflation-Protected Bonds | CALY vs VTIP | |
| First Trust California Municipal High Income ETF | 0.07 | 0.07 | 0.08 | 74 | Municipal Bonds | CALY vs FCAL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CALY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CALY and solid risk/return profiles. The least correlated is Acushnet Holdings Corp. (GOLF) (Consumer Cyclical) with a 1Y correlation of 0.57, roughly unchanged from 0.65 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Acushnet Holdings Corp. | 0.57 | 0.59 | 0.65 | 68 | Consumer Cyclical |
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