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
8 ETFs have low correlation with CCAP (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck IG Floating Rate ETF (FLTR) (Corporate Bonds) with a 1Y correlation of 0.09, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck IG Floating Rate ETF | 0.09 | 0.08 | 0.11 | 99 | Corporate Bonds, Ultrashort Bond | CCAP vs FLTR | |
| Janus Henderson AAA CLO ETF | 0.12 | 0.11 | 0.07 | 99 | CLO | CCAP vs JAAA | |
| Global X NASDAQ 100 Covered Call ETF | 0.19 | 0.27 | 0.26 | 92 | Nasdaq-100, Derivative Income | CCAP vs QYLD | |
| PIMCO Multisector Bond Active Exchange-Traded Fund | 0.20 | 0.18 | — | 70 | Multisector Bonds | CCAP vs PYLD | |
| JPMorgan Income ETF | 0.23 | 0.24 | — | 95 | Multisector Bonds | CCAP vs JPIE |
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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 Clearway Energy, Inc. (CWEN) (Utilities) with a 1Y correlation of -0.03, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Clearway Energy, Inc. | -0.03 | 0.19 | 0.21 | 55 | Utilities | |
| Altria Group, Inc. | 0.01 | 0.07 | 0.12 | 79 | Consumer Defensive | |
| PG&E Corporation | 0.04 | 0.18 | 0.19 | 74 | Utilities | |
| Enbridge Inc. | 0.05 | 0.22 | 0.25 | 87 | Energy | |
| International Seaways, Inc. | 0.06 | 0.14 | 0.16 | 98 | Energy |
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