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
405 ETFs have low correlation with CANQ (below 0.3), 85 of which are negatively correlated. The least correlated is Defiance Daily Target 2X Short MSTR ETF (SMST) (Inverse Equities) with a 1Y correlation of -0.47, roughly unchanged from -0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.47 | -0.45 | -0.45 | 60 | Inverse Equities | CANQ vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.47 | -0.44 | -0.44 | 68 | Inverse Equities, Leveraged Equities | CANQ vs MSTZ | |
| ProShares Short Bitcoin ETF | -0.45 | -0.38 | -0.38 | 57 | Cryptocurrency | CANQ vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.45 | -0.39 | -0.39 | 52 | Cryptocurrency, Leveraged Cryptocurrency | CANQ vs SBIT | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.44 | -0.45 | -0.45 | 70 | Derivative Income | CANQ vs WNTR |
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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 0.06, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | 0.06 | 0.25 | 0.25 | 80 | Healthcare | |
| Snowflake Inc. | 0.33 | 0.41 | 0.41 | 60 | Technology | |
| Palo Alto Networks, Inc. | 0.36 | 0.43 | 0.43 | 84 | Technology | |
| CrowdStrike Holdings, Inc. | 0.44 | — | — | 77 | Technology | |
| Robinhood Markets, Inc. | 0.55 | 0.51 | 0.51 | 52 | Financial Services |
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