Looking to balance out your exposure to CDNA? The ETFs below have historically moved differently from CDNA, 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 CDNA
0 ETFs have low correlation with CDNA (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 0.31, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.31 | 0.38 | 0.44 | 67 | S&P 500 | CDNA vs SPY | |
| SPDR S&P Biotech ETF | 0.36 | 0.49 | 0.59 | 94 | Health & Biotech Equities | CDNA vs XBI |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CDNA, 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 Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of 0.12, roughly unchanged from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | 0.12 | 0.15 | 0.15 | 83 | Healthcare | |
| Lumen Technologies, Inc. | 0.13 | 0.22 | 0.23 | 64 | Communication Services | |
| NVIDIA Corporation | 0.13 | 0.21 | 0.31 | 56 | Technology | |
| Pulse Biosciences, Inc. | 0.30 | 0.31 | 0.29 | 88 | Healthcare | |
| AST SpaceMobile, Inc. | 0.30 | 0.31 | 0.32 | 52 | Technology |
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