Looking to diversify beyond CANC? The ETFs below have the lowest correlation with CANC — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from CANC.
Best Diversifiers for CANC
550 ETFs have low correlation with CANC (below 0.3), 92 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.31, down from -0.11 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.31 | -0.11 | — | 66 | Oil & Gas | CANC vs USO | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.31 | -0.10 | — | 56 | Oil & Gas | CANC vs OILK | |
| United States Brent Oil Fund LP | -0.31 | -0.11 | — | 65 | Oil & Gas | CANC vs BNO | |
| Invesco DB Oil Fund | -0.31 | -0.11 | — | 65 | Oil & Gas | CANC vs DBO | |
| Invesco DB Energy Fund | -0.30 | -0.12 | — | 71 | Oil & Gas | CANC vs DBE |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CANC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CANC and solid risk/return profiles. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of 0.33, roughly unchanged from 0.26 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | 0.33 | 0.26 | — | 92 | Healthcare | |
| Eli Lilly and Company | 0.50 | 0.34 | — | 72 | Healthcare | |
| CG Oncology, Inc | 0.52 | — | — | 87 | Healthcare |
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