Looking to balance out your exposure to CDW? The ETFs below have the lowest correlation with CDW — they tend to move on their own, which can help reduce risk when CDW drops. The stock ideas table highlights individual companies that behave independently from CDW.
Best Diversifiers for CDW
5 ETFs have low correlation with CDW (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares Ultra Semiconductors (USD) (Leveraged Equities) with a 1Y correlation of 0.11, down from 0.47 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Semiconductors | 0.11 | 0.32 | 0.47 | 84 | Leveraged Equities, Semiconductors | CDW vs USD | |
| VanEck Semiconductor ETF | 0.18 | 0.40 | 0.52 | 95 | Semiconductors, Technology Equities | CDW vs SMH | |
| ProShares UltraPro QQQ | 0.27 | 0.45 | 0.56 | 55 | Leveraged Equities | CDW vs TQQQ | |
| ProShares Ultra Technology | 0.27 | 0.45 | 0.56 | 65 | Leveraged Equities | CDW vs ROM | |
| Vanguard Information Technology ETF | 0.28 | 0.45 | 0.57 | 60 | Technology Equities | CDW vs VGT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CDW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CDW and solid risk/return profiles. The least correlated is RenaissanceRe Holdings Ltd. (RNR) (Financial Services) with a 1Y correlation of -0.07, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RenaissanceRe Holdings Ltd. | -0.07 | 0.07 | 0.16 | 77 | Financial Services | |
| Johnson & Johnson | -0.06 | 0.05 | 0.15 | 97 | Healthcare | |
| Coca-Cola European Partners plc | -0.03 | 0.10 | 0.26 | 56 | Consumer Defensive | |
| The Southern Company | -0.03 | -0.02 | 0.11 | 59 | Utilities | |
| Walmart Inc. | -0.01 | 0.11 | 0.20 | 68 | Consumer Defensive |
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Build a portfolio that complements CDW
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