Looking to balance out your exposure to CARR? The ETFs below have the lowest correlation with CARR — they tend to move on their own, which can help reduce risk when CARR drops. The stock ideas table highlights individual companies that behave independently from CARR.
Best Diversifiers for CARR
1 ETFs have low correlation with CARR (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Technology Select Sector SPDR ETF (XLK) (Technology Equities) with a 1Y correlation of 0.27, down from 0.52 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Technology Select Sector SPDR ETF | 0.27 | 0.44 | 0.52 | 83 | Technology Equities | CARR vs XLK | |
| iShares Core S&P U.S. Growth ETF | 0.33 | 0.49 | 0.56 | 59 | Large Cap Growth Equities | CARR vs IUSG | |
| Invesco QQQ ETF | 0.33 | 0.48 | 0.53 | 73 | Nasdaq-100 | CARR vs QQQ | |
| VanEck Semiconductor ETF | 0.35 | 0.46 | 0.52 | 96 | Semiconductors, Technology Equities | CARR vs SMH | |
| Schwab U.S. Dividend Equity ETF | 0.40 | 0.52 | 0.58 | 80 | Dividend | CARR vs SCHD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CARR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CARR and solid risk/return profiles. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of -0.06, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | -0.06 | 0.02 | 0.12 | 92 | Healthcare | |
| Duke Energy Corporation | -0.03 | 0.07 | 0.16 | 53 | Utilities | |
| ConocoPhillips Company | 0.01 | 0.15 | 0.17 | 76 | Energy | |
| Eli Lilly and Company | 0.01 | 0.16 | 0.19 | 72 | Healthcare | |
| Exxon Mobil Corporation | 0.02 | 0.15 | 0.18 | 85 | Energy |
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