Looking to balance out your exposure to CAN? The ETFs below have the lowest correlation with CAN — they tend to move on their own, which can help reduce risk when CAN drops. The stock ideas table highlights individual companies that behave independently from CAN.
Best Diversifiers for CAN
0 ETFs have low correlation with CAN (below 0.3), 0 of which are negatively correlated. The least correlated is SP Funds S&P 500 Sharia Industry Exclusions ETF (SPUS) (S&P 500) with a 1Y correlation of 0.44, roughly unchanged from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SP Funds S&P 500 Sharia Industry Exclusions ETF | 0.44 | 0.39 | 0.41 | 81 | S&P 500 | CAN vs SPUS | |
| State Street SPDR S&P 500 ETF | 0.50 | 0.41 | 0.42 | 70 | S&P 500 | CAN vs SPY | |
| Vanguard S&P 500 ETF | 0.50 | 0.41 | 0.42 | 70 | S&P 500 | CAN vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CAN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CAN and solid risk/return profiles. The least correlated is Kenon Holdings Ltd. (KEN) (Utilities) with a 1Y correlation of 0.18, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kenon Holdings Ltd. | 0.18 | 0.15 | 0.19 | 95 | Utilities | |
| Arm Holdings plc American Depositary Shares | 0.31 | — | — | 92 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.35 | 0.31 | 0.36 | 95 | Technology | |
| TeraWulf Inc. | 0.49 | 0.50 | 0.43 | 97 | Financial Services | |
| Riot Blockchain, Inc. | 0.51 | 0.58 | 0.62 | 86 | Technology |
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