Looking to diversify beyond CANQ? The ETFs below have historically moved differently from CANQ, 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 CANQ
425 ETFs have low correlation with CANQ (below 0.3), 100 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.46 | — | — | 51 | Cryptocurrency | CANQ vs BITI | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.45 | — | — | 69 | Derivative Income | CANQ vs WNTR | |
| Invesco DB Energy Fund | -0.32 | — | — | 66 | Oil & Gas | CANQ vs DBE | |
| Invesco DB Oil Fund | -0.28 | -0.09 | -0.09 | 51 | Oil & Gas | CANQ vs DBO | |
| YieldMax XOM Option Income Strategy ETF | -0.28 | -0.10 | -0.10 | 52 | Derivative Income, Dividend | CANQ vs XOMO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CANQ, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | 0.06 | — | — | 79 | Healthcare | |
| Snowflake Inc. | 0.31 | — | — | 69 | Technology | |
| Palo Alto Networks, Inc. | 0.37 | — | — | 90 | Technology | |
| CrowdStrike Holdings, Inc. | 0.45 | — | — | 83 | Technology |
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