Looking to diversify beyond CANQ? The ETFs below have the lowest correlation with CANQ — 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 CANQ.
Best Diversifiers for CANQ
386 ETFs have low correlation with CANQ (below 0.3), 85 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.35 | — | — | 71 | Oil & Gas | CANQ vs DBE | |
| United States Oil Fund LP | -0.34 | — | — | 66 | Oil & Gas | CANQ vs USO | |
| United States Brent Oil Fund LP | -0.33 | — | — | 65 | Oil & Gas | CANQ vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.32 | — | — | 56 | Derivative Income | CANQ vs USOY | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.30 | — | — | 55 | Oil & Gas | CANQ vs OILK |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CANQ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CANQ and solid risk/return profiles. The least correlated is Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of 0.11, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | 0.11 | 0.27 | 0.27 | 72 | Healthcare | |
| Palo Alto Networks, Inc. | 0.32 | 0.43 | 0.43 | 67 | Technology | |
| CrowdStrike Holdings, Inc. | 0.42 | 0.51 | 0.51 | 70 | Technology |
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