Looking to balance out your exposure to CARE? The ETFs below have the lowest correlation with CARE — they tend to move on their own, which can help reduce risk when CARE drops. The stock ideas table highlights individual companies that behave independently from CARE.
Best Diversifiers for CARE
3 ETFs have low correlation with CARE (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.18, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.18 | 0.24 | 0.31 | 64 | Nasdaq-100 | CARE vs QQQ | |
| Vanguard S&P 500 ETF | 0.28 | 0.35 | 0.41 | 63 | S&P 500 | CARE vs VOO | |
| State Street SPDR S&P 500 ETF | 0.29 | 0.35 | 0.41 | 63 | S&P 500 | CARE vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CARE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CARE and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.02, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.02 | 0.08 | 0.18 | 66 | Technology | |
| Chevron Corporation | 0.04 | 0.17 | 0.24 | 72 | Energy | |
| Johnson & Johnson | 0.07 | 0.14 | 0.16 | 97 | Healthcare | |
| The Coca-Cola Company | 0.09 | 0.11 | 0.19 | 76 | Consumer Defensive | |
| Verizon Communications Inc. | 0.11 | 0.10 | 0.15 | 66 | Communication Services |
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