Looking to balance out your exposure to CECO? The ETFs below have historically moved differently from CECO, 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 CECO
0 ETFs have low correlation with CECO (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.42, roughly unchanged from 0.43 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.42 | 0.42 | 0.43 | 67 | S&P 500 | CECO vs SPY | |
| Vanguard S&P 500 ETF | 0.42 | 0.42 | 0.43 | 68 | S&P 500 | CECO vs VOO | |
| Invesco S&P 500 Quality ETF | 0.46 | 0.42 | 0.43 | 62 | Quality Factor, S&P 500, Large Cap Blend Equities | CECO vs SPHQ |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CECO, 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 Visa Inc. (V) (Financial Services) with a 1Y correlation of -0.10, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Visa Inc. | -0.10 | 0.12 | 0.21 | 53 | Financial Services | |
| Exelon Corporation | -0.08 | -0.00 | 0.08 | 52 | Utilities | |
| Berkshire Hathaway Inc. | -0.02 | 0.15 | 0.24 | 61 | Financial Services | |
| Huazhu Group Limited | -0.02 | 0.07 | 0.11 | 79 | Consumer Cyclical | |
| American Electric Power Company, Inc. | 0.03 | 0.02 | 0.08 | 72 | Utilities |
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