Looking to diversify beyond CDX? The ETFs below have historically moved differently from CDX, 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 CDX
1127 ETFs have low correlation with CDX (below 0.3), 116 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.30, down from -0.20 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.30 | -0.20 | — | 56 | Leveraged Currency | CDX vs YCS | |
| Invesco DB Energy Fund | -0.27 | -0.10 | — | 72 | Oil & Gas | CDX vs DBE | |
| MicroSectors U.S. Big Oil Index 3X Leveraged ETN | -0.26 | — | — | 75 | Leveraged Equities | CDX vs NRGU | |
| United States Oil Fund LP | -0.26 | -0.11 | -0.04 | 55 | Oil & Gas | CDX vs USO | |
| SPDR S&P Oil & Gas Exploration & Production ETF | -0.26 | -0.09 | — | 58 | Energy Equities | CDX vs XOP |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CDX, 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 Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of -0.05, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.05 | -0.05 | 0.06 | 66 | Communication Services | |
| Hercules Capital, Inc. | -0.00 | 0.00 | — | 71 | ||
| Strategy Inc Variable Rate Series A Perpetual Stre... | 0.06 | 0.06 | 0.06 | 57 | Technology | |
| Easterly Government Properties, Inc. | 0.08 | 0.13 | 0.20 | 73 | Real Estate | |
| Realty Income Corporation | 0.11 | 0.15 | — | 77 | Real Estate |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements CDX
Add CDX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with CDX