Looking to balance out your exposure to CDNA? The ETFs below have the lowest correlation with CDNA — they tend to move on their own, which can help reduce risk when CDNA drops. The stock ideas table highlights individual companies that behave independently from CDNA.
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.
| 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 | 70 | S&P 500 | CDNA vs SPY | |
| SPDR S&P Biotech ETF | 0.38 | 0.50 | 0.60 | 74 | Health & Biotech Equities | CDNA vs XBI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CDNA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CDNA and solid risk/return profiles. The least correlated is Lumen Technologies, Inc. (LUMN) (Communication Services) with a 1Y correlation of 0.12, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lumen Technologies, Inc. | 0.12 | 0.23 | 0.23 | 81 | Communication Services | |
| NVIDIA Corporation | 0.16 | 0.21 | 0.32 | 78 | Technology | |
| AppLovin Corporation | 0.20 | 0.25 | 0.38 | 59 | Technology | |
| Tesla, Inc. | 0.26 | 0.26 | 0.33 | 55 | Consumer Cyclical | |
| AST SpaceMobile, Inc. | 0.27 | 0.31 | 0.32 | 91 | Communication Services |
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