Looking to balance out your exposure to CCO? The ETFs below have the lowest correlation with CCO — they tend to move on their own, which can help reduce risk when CCO drops. The stock ideas table highlights individual companies that behave independently from CCO.
Best Diversifiers for CCO
2 ETFs have low correlation with CCO (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.23, down from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.23 | 0.33 | 0.41 | 67 | S&P 500 | CCO vs SPY | |
| WisdomTree International LargeCap Dividend Fund | 0.24 | 0.29 | 0.35 | 64 | Foreign Large Cap Equities, Dividend | CCO vs DOL |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CCO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CCO and solid risk/return profiles. The least correlated is Edison International (EIX) (Utilities) with a 1Y correlation of 0.09, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Edison International | 0.09 | 0.17 | 0.17 | 93 | Utilities | |
| FormFactor, Inc. | 0.11 | 0.22 | 0.28 | 94 | Technology | |
| Uranium Energy Corp. | 0.13 | 0.17 | 0.30 | 71 | Energy | |
| McEwen Mining Inc. | 0.14 | 0.15 | 0.15 | 74 | Basic Materials | |
| Meta Financial Group, Inc. | 0.14 | 0.30 | 0.39 | 52 | Financial Services |
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