Looking to balance out your exposure to CCO? The ETFs below have historically moved differently from CCO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for CCO
2 ETFs have low correlation with CCO (below 0.3), 0 of which are negatively correlated. The least correlated is WisdomTree International LargeCap Dividend Fund (DOL) (Foreign Large Cap Equities) with a 1Y correlation of 0.19, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree International LargeCap Dividend Fund | 0.19 | 0.29 | 0.34 | 82 | Foreign Large Cap Equities, Dividend | CCO vs DOL | |
| State Street SPDR S&P 500 ETF | 0.21 | 0.34 | 0.41 | 67 | S&P 500 | CCO vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CCO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Edison International (EIX) (Utilities) with a 1Y correlation of 0.08, roughly unchanged from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Edison International | 0.08 | 0.17 | 0.17 | 91 | Utilities | |
| FormFactor, Inc. | 0.10 | 0.21 | 0.28 | 96 | Technology | |
| Pathward Financial, Inc. | 0.10 | 0.31 | 0.38 | 61 | Financial Services | |
| InnovAge Holding Corp. | 0.11 | 0.26 | 0.26 | 96 | Healthcare | |
| The Pennant Group, Inc. | 0.12 | 0.19 | 0.30 | 92 | Healthcare |
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