Looking to balance out your exposure to CDP? The ETFs below have historically moved differently from CDP, 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 CDP
2 ETFs have low correlation with CDP (below 0.3), 0 of which are negatively correlated. The least correlated is Global X 1-3 Month T-Bill ETF (CLIP) (Ultrashort Bond) with a 1Y correlation of 0.06, roughly unchanged from 0.02 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 1-3 Month T-Bill ETF | 0.06 | 0.02 | — | 100 | Ultrashort Bond | CDP vs CLIP | |
| State Street SPDR S&P 500 ETF | 0.15 | 0.31 | 0.38 | 67 | S&P 500 | CDP vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CDP, 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 EOG Resources, Inc. (EOG) (Energy) with a 1Y correlation of -0.10, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| EOG Resources, Inc. | -0.10 | 0.11 | 0.20 | 72 | Energy | |
| NVIDIA Corporation | -0.05 | 0.04 | 0.13 | 56 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.02 | 0.13 | 0.17 | 87 | Technology | |
| Alphabet Inc. Class A | 0.08 | 0.13 | 0.19 | 95 | Communication Services | |
| Lockheed Martin Corporation | 0.14 | 0.17 | 0.21 | 80 | Industrials |
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