Looking to balance out your exposure to CDP? The ETFs below have the lowest correlation with CDP — they tend to move on their own, which can help reduce risk when CDP drops. The stock ideas table highlights individual companies that behave independently from CDP.
Best Diversifiers for CDP
2 ETFs have low correlation with CDP (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 1-3 Month T-Bill ETF | 0.08 | — | — | 100 | Ultrashort Bond | CDP vs CLIP | |
| State Street SPDR S&P 500 ETF | 0.21 | 0.33 | 0.40 | 70 | S&P 500 | CDP vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CDP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CDP and solid risk/return profiles. The least correlated is Oracle Corporation (ORCL) (Technology) with a 1Y correlation of -0.06, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Oracle Corporation | -0.06 | 0.08 | 0.17 | 58 | Technology | |
| NVIDIA Corporation | -0.05 | 0.06 | 0.14 | 78 | Technology | |
| EOG Resources, Inc. | -0.00 | 0.16 | 0.22 | 69 | Energy | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.04 | 0.15 | 0.18 | 95 | Technology | |
| Alphabet Inc. Class A | 0.10 | 0.13 | 0.20 | 96 | Communication Services |
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