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
5 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 -0.06, 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 | -0.06 | -0.06 | -0.01 | 100 | Government Bonds, Ultrashort Bond | CCL vs BIL | |
| iShares 0-1 Year Treasury Bond ETF | 0.03 | 0.06 | 0.03 | 100 | Government Bonds, Ultrashort Bond | CCL vs SHV | |
| JPMorgan Ultra-Short Income ETF | 0.20 | 0.13 | 0.08 | 99 | Ultrashort Bond | CCL vs JPST | |
| State Street Health Care Select Sector SPDR ETF | 0.28 | 0.28 | 0.29 | 50 | Health & Biotech Equities | CCL vs XLV | |
| Schwab U.S. Dividend Equity ETF | 0.30 | 0.36 | 0.44 | 91 | Dividend | CCL vs SCHD |
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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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.25, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.25 | -0.08 | 0.10 | 67 | Energy | |
| Chevron Corporation | -0.24 | -0.04 | 0.11 | 74 | Energy | |
| Exxon Mobil Corporation | -0.21 | -0.06 | 0.09 | 78 | Energy | |
| ConocoPhillips Company | -0.19 | -0.04 | 0.11 | 69 | Energy | |
| Devon Energy Corporation | -0.16 | 0.00 | 0.15 | 76 | Energy |
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Build a portfolio that complements CCL
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