Looking to balance out your exposure to CBNK? The ETFs below have the lowest correlation with CBNK — they tend to move on their own, which can help reduce risk when CBNK drops. The stock ideas table highlights individual companies that behave independently from CBNK.
Best Diversifiers for CBNK
2 ETFs have low correlation with CBNK (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.16, down from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.16 | -0.05 | -0.04 | 100 | Ultrashort Bond | CBNK vs SGOV | |
| Vanguard Information Technology ETF | 0.27 | 0.22 | 0.27 | 76 | Technology Equities | CBNK vs VGT | |
| State Street SPDR S&P 500 ETF | 0.44 | 0.33 | 0.39 | 70 | S&P 500 | CBNK vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CBNK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CBNK and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.00, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.00 | 0.12 | 0.19 | 69 | Consumer Defensive | |
| Teekay Tankers Ltd. | 0.07 | 0.07 | 0.08 | 82 | Energy | |
| Verizon Communications Inc. | 0.09 | 0.11 | 0.15 | 59 | Communication Services | |
| Target Hospitality Corp. | 0.20 | 0.15 | 0.16 | 90 | Energy | |
| Ubiquiti Inc. | 0.23 | 0.29 | 0.30 | 62 | Technology |
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