Looking to balance out your exposure to CBL? The ETFs below have historically moved differently from CBL, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for CBL
11 ETFs have low correlation with CBL (below 0.3), 3 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.12, roughly unchanged from -0.02 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.12 | -0.02 | — | 100 | Ultrashort Bond | CBL vs SGOV | |
| Vanguard 0-3 Month Treasury Bill ETF | -0.09 | — | — | 100 | Ultrashort Bond | CBL vs VBIL | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.06 | -0.00 | — | 100 | Government Bonds, Ultrashort Bond | CBL vs BIL | |
| Invesco QQQ ETF | 0.02 | 0.20 | — | 54 | Nasdaq-100 | CBL vs QQQ | |
| Tortoise North American Pipeline Fund | 0.04 | 0.27 | — | 61 | Energy Equities | CBL vs TPYP |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CBL, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Applied Optoelectronics, Inc. (AAOI) (Technology) with a 1Y correlation of -0.11, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Applied Optoelectronics, Inc. | -0.11 | 0.10 | 0.14 | 96 | Technology | |
| Vertiv Holdings Co. | -0.10 | 0.09 | 0.20 | 83 | Industrials | |
| GLOBALFOUNDRIES Inc. | -0.07 | 0.14 | 0.21 | 70 | Technology | |
| Eaton Corporation plc | -0.06 | 0.14 | 0.24 | 67 | Industrials | |
| Quanta Services, Inc. | -0.06 | 0.13 | 0.25 | 87 | Industrials |
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