Looking to balance out your exposure to CCAP? The ETFs below have the lowest correlation with CCAP — they tend to move on their own, which can help reduce risk when CCAP drops. The stock ideas table highlights individual companies that behave independently from CCAP.
Best Diversifiers for CCAP
6 ETFs have low correlation with CCAP (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Vectors Investment Grade Floating Rate ETF (FLTR) (Corporate Bonds) with a 1Y correlation of 0.12, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Vectors Investment Grade Floating Rate ETF | 0.12 | 0.09 | 0.11 | 99 | Corporate Bonds | CCAP vs FLTR | |
| Janus Henderson AAA CLO ETF | 0.15 | 0.12 | 0.08 | 98 | CLO | CCAP vs JAAA | |
| PIMCO ETF Trust - PIMCO Multisector Bond Active Ex... | 0.21 | — | — | 65 | Multisector Bonds | CCAP vs PYLD | |
| JPMorgan Income ETF | 0.21 | 0.23 | — | 94 | Multisector Bonds | CCAP vs JPIE | |
| Amplify Natural Resources Dividend Income ETF | 0.23 | 0.36 | — | 56 | Energy Equities, Dividend | CCAP vs NDIV |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CCAP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CCAP and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.00, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.00 | 0.08 | 0.12 | 73 | Consumer Defensive | |
| Clearway Energy, Inc. | 0.01 | 0.21 | 0.22 | 79 | Utilities | |
| International Seaways, Inc. | 0.06 | 0.14 | 0.16 | 95 | Energy | |
| Taseko Mines Limited | 0.16 | 0.24 | 0.23 | 92 | Basic Materials | |
| Dow Inc. | 0.21 | 0.29 | 0.29 | 59 | Basic Materials |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements CCAP
Add CCAP to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with CCAP