Looking to diversify beyond CBON? The ETFs below have historically moved differently from CBON, 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 CBON
2157 ETFs have low correlation with CBON (below 0.3), 113 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.31, roughly unchanged from -0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.31 | -0.35 | -0.34 | 56 | Leveraged Currency | CBON vs YCS | |
| United States Gasoline Fund LP | -0.18 | -0.07 | 0.03 | 87 | Oil & Gas | CBON vs UGA | |
| United States Oil Fund LP | -0.17 | -0.06 | 0.03 | 55 | Oil & Gas | CBON vs USO | |
| SPDR S&P Oil & Gas Exploration & Production ETF | -0.17 | -0.03 | 0.07 | 58 | Energy Equities | CBON vs XOP | |
| United States Brent Oil Fund LP | -0.17 | -0.06 | 0.03 | 52 | Oil & Gas | CBON vs BNO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CBON, 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 Lockheed Martin Corporation (LMT) (Industrials) with a 1Y correlation of 0.01, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lockheed Martin Corporation | 0.01 | -0.01 | 0.02 | 80 | Industrials | |
| Sabine Royalty Trust | 0.05 | 0.04 | 0.10 | 64 | Energy | |
| Virtu Financial, Inc. | 0.09 | 0.04 | 0.08 | 73 | Financial Services |
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