Looking to balance out your exposure to CDNS? The ETFs below have historically moved differently from CDNS, 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 CDNS
89 ETFs have low correlation with CDNS (below 0.3), 25 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.13, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.13 | -0.01 | 0.02 | 55 | Oil & Gas | CDNS vs USO | |
| iShares Core High Dividend ETF | -0.11 | 0.03 | 0.19 | 92 | Dividend, Large Cap Value Equities | CDNS vs HDV | |
| Franklin U.S. Low Volatility High Dividend Index E... | -0.10 | 0.02 | 0.19 | 61 | Dividend, Low Volatility | CDNS vs LVHD | |
| Global X MLP & Energy Infrastructure ETF | -0.10 | 0.12 | 0.20 | 74 | Infrastructure Equities, MLPs | CDNS vs MLPX | |
| State Street Energy Select Sector SPDR ETF | -0.09 | 0.05 | 0.12 | 76 | Energy Equities | CDNS vs XLE |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CDNS, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.33, down from -0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.33 | -0.19 | -0.08 | 66 | Consumer Defensive | |
| Duke Energy Corporation | -0.31 | -0.22 | -0.07 | 56 | Utilities | |
| The Coca-Cola Company | -0.29 | -0.13 | 0.03 | 90 | Consumer Defensive | |
| Colgate-Palmolive Company | -0.24 | -0.08 | 0.01 | 59 | Consumer Defensive | |
| Chubb Limited | -0.23 | -0.08 | 0.07 | 89 | Financial Services |
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