Looking to diversify beyond CANE? The ETFs below have the lowest correlation with CANE — 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 CANE.
Best Diversifiers for CANE
2115 ETFs have low correlation with CANE (below 0.3), 1582 of which are negatively correlated. The least correlated is iShares New York Muni Bond ETF (NYF) (Municipal Bonds) with a 1Y correlation of -0.30, down from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares New York Muni Bond ETF | -0.30 | -0.09 | -0.04 | 68 | Municipal Bonds | CANE vs NYF | |
| AB Tax-Aware Intermediate Municipal ETF | -0.30 | — | — | 68 | Municipal Bonds | CANE vs TAFM | |
| First Trust California Municipal High Income ETF | -0.30 | -0.07 | -0.01 | 74 | Municipal Bonds | CANE vs FCAL | |
| Janus Henderson Securitized Income ETF | -0.29 | — | — | 58 | Short-Term Bond | CANE vs JSI | |
| Invesco Variable Rate Preferred ETF | -0.28 | -0.02 | 0.04 | 71 | Preferred Stock/Convertible Bonds | CANE vs VRP |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CANE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CANE and solid risk/return profiles. The least correlated is Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.04, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.04 | -0.02 | 0.01 | 72 | Healthcare | |
| Amazon.com, Inc | 0.01 | 0.03 | 0.03 | 60 | Consumer Cyclical | |
| Camtek Ltd | 0.03 | 0.02 | 0.03 | 90 | Technology |
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