Looking to balance out your exposure to CCL? The ETFs below have the lowest correlation with CCL — they tend to move on their own, which can help reduce risk when CCL drops. The stock ideas table highlights individual companies that behave independently from CCL.
Best Diversifiers for CCL
3 ETFs have low correlation with CCL (below 0.3), 1 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.07, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.07 | -0.07 | -0.01 | 100 | Government Bonds, Ultrashort Bond | CCL vs BIL | |
| iShares 0-1 Year Treasury Bond ETF | 0.04 | 0.05 | 0.04 | 100 | Government Bonds, Ultrashort Bond | CCL vs SHV | |
| JPMorgan Ultra-Short Income ETF | 0.23 | 0.12 | 0.08 | 99 | Ultrashort Bond | CCL vs JPST | |
| Schwab U.S. Dividend Equity ETF | 0.34 | 0.36 | 0.44 | 77 | Dividend | CCL vs SCHD | |
| Vanguard Information Technology ETF | 0.38 | 0.43 | 0.49 | 58 | Technology Equities | CCL vs VGT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CCL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CCL and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.20, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.20 | -0.04 | 0.12 | 70 | Energy | |
| Exxon Mobil Corporation | -0.19 | -0.05 | 0.11 | 74 | Energy | |
| BP p.l.c. | -0.13 | -0.01 | 0.17 | 75 | Energy | |
| Valero Energy Corporation | -0.09 | 0.05 | 0.16 | 91 | Energy | |
| Duke Energy Corporation | -0.06 | 0.01 | 0.02 | 64 | Utilities |
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Build a portfolio that complements CCL
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Analyze a portfolio with CCL