Looking to balance out your exposure to CAN? The ETFs below have historically moved differently from CAN, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
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 0.46, roughly unchanged from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SP Funds S&P 500 Sharia Industry Exclusions ETF | 0.46 | 0.40 | 0.42 | 63 | S&P 500 | CAN vs SPUS | |
| State Street SPDR S&P 500 ETF | 0.48 | 0.42 | 0.43 | 67 | S&P 500 | CAN vs SPY | |
| Vanguard S&P 500 ETF | 0.48 | 0.42 | 0.43 | 68 | S&P 500 | CAN vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CAN, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Karooooo Ltd. (KARO) (Technology) with a 1Y correlation of 0.19, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Karooooo Ltd. | 0.19 | 0.16 | 0.15 | 74 | Technology | |
| Kenon Holdings Ltd. | 0.20 | 0.17 | 0.20 | 75 | Utilities | |
| Arm Holdings plc American Depositary Shares | 0.33 | — | — | 74 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.39 | 0.33 | 0.36 | 87 | Technology | |
| TeraWulf Inc. | 0.47 | 0.50 | — | 94 | Technology |
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