Looking to balance out your exposure to CAR? The ETFs below have the lowest correlation with CAR — they tend to move on their own, which can help reduce risk when CAR drops. The stock ideas table highlights individual companies that behave independently from CAR.
Best Diversifiers for CAR
2 ETFs have low correlation with CAR (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.21, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.21 | 0.37 | 0.45 | 70 | S&P 500 | CAR vs SPY | |
| Vanguard S&P 500 ETF | 0.21 | 0.37 | 0.45 | 70 | S&P 500 | CAR vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CAR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CAR and solid risk/return profiles. The least correlated is AngloGold Ashanti Limited (AU) (Basic Materials) with a 1Y correlation of -0.03, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AngloGold Ashanti Limited | -0.03 | 0.09 | 0.09 | 81 | Basic Materials | |
| NVIDIA Corporation | -0.02 | 0.15 | 0.28 | 78 | Technology | |
| Micron Technology, Inc. | 0.01 | 0.22 | 0.29 | 99 | Technology | |
| Eli Lilly and Company | 0.03 | 0.02 | 0.03 | 72 | Healthcare | |
| Tesla, Inc. | 0.04 | 0.22 | 0.30 | 55 | Consumer Cyclical |
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