Looking to balance out your exposure to CDE? The ETFs below have historically moved differently from CDE, 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 CDE
5 ETFs have low correlation with CDE (below 0.3), 2 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.05, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.05 | 0.11 | 0.23 | 61 | Energy Equities | CDE vs XLE | |
| Vanguard Energy ETF | -0.04 | 0.12 | 0.24 | 61 | Energy Equities | CDE vs VDE | |
| iShares 1-3 Year Treasury Bond ETF | 0.18 | 0.17 | 0.20 | 82 | Government Bonds, Short-Term Bond | CDE vs SHY | |
| iShares 1-5 Year Investment Grade Corporate Bond E... | 0.24 | 0.22 | 0.26 | 69 | Corporate Bonds, Investment Grade Bonds | CDE vs IGSB | |
| ProShares Ultra Nasdaq Biotechnology | 0.27 | 0.27 | 0.28 | 87 | Leveraged Equities | CDE vs BIB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CDE, 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 Arch Capital Group Ltd. (ACGL) (Financial Services) with a 1Y correlation of -0.19, down from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Arch Capital Group Ltd. | -0.19 | -0.05 | 0.03 | 59 | Financial Services | |
| Skyward Specialty Insurance Group Inc. Common Stoc... | -0.11 | 0.02 | 0.01 | 69 | Financial Services | |
| AXIS Capital Holdings Limited | -0.10 | 0.02 | 0.08 | 59 | Financial Services | |
| Hamilton Insurance Group Ltd. | -0.09 | 0.02 | 0.02 | 96 | Financial Services | |
| CareTrust REIT, Inc. | -0.08 | 0.13 | 0.17 | 78 | Real Estate |
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