Looking to balance out your exposure to CAPL? The ETFs below have the lowest correlation with CAPL — they tend to move on their own, which can help reduce risk when CAPL drops. The stock ideas table highlights individual companies that behave independently from CAPL.
Best Diversifiers for CAPL
3 ETFs have low correlation with CAPL (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.03, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.03 | 0.11 | 0.22 | 70 | S&P 500 | CAPL vs VOO | |
| Fidelity High Dividend ETF | 0.05 | 0.16 | 0.30 | 64 | Large Cap Blend Equities, Dividend | CAPL vs FDVV | |
| Schwab U.S. Dividend Equity ETF | 0.17 | 0.22 | 0.31 | 80 | Dividend | CAPL vs SCHD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CAPL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CAPL and solid risk/return profiles. The least correlated is Crocs, Inc. (CROX) (Consumer Cyclical) with a 1Y correlation of -0.01, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Crocs, Inc. | -0.01 | 0.09 | 0.13 | 50 | Consumer Cyclical | |
| Halozyme Therapeutics, Inc. | 0.01 | 0.04 | 0.09 | 66 | Healthcare | |
| KLA Corporation | 0.01 | 0.04 | 0.10 | 95 | Technology | |
| ZIM Integrated Shipping Services Ltd. | 0.01 | 0.03 | 0.08 | 72 | Industrials | |
| Alphabet Inc. Class A | 0.03 | 0.07 | 0.12 | 96 | Communication Services |
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