Looking to balance out your exposure to CBL? The ETFs below have the lowest correlation with CBL — they tend to move on their own, which can help reduce risk when CBL drops. The stock ideas table highlights individual companies that behave independently from CBL.
Best Diversifiers for CBL
2 ETFs have low correlation with CBL (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.08, down from 0.22 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.08 | 0.22 | — | 59 | Nasdaq-100 | CBL vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.21 | 0.33 | — | 60 | S&P 500 | CBL vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CBL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CBL and solid risk/return profiles. The least correlated is Taiwan Semiconductor Manufacturing Company Limited (TSM) (Technology) with a 1Y correlation of 0.00, down from 0.12 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | 0.00 | 0.12 | — | 93 | Technology | |
| Cardinal Health, Inc. | 0.08 | 0.12 | — | 81 | Healthcare | |
| MasTec, Inc. | 0.08 | 0.25 | — | 95 | Industrials | |
| Liquidia Corporation | 0.09 | 0.14 | — | 98 | Healthcare | |
| United Therapeutics Corporation | 0.10 | 0.18 | — | 94 | Healthcare |
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