Looking to balance out your exposure to CECO? The ETFs below have the lowest correlation with CECO — they tend to move on their own, which can help reduce risk when CECO drops. The stock ideas table highlights individual companies that behave independently from CECO.
Best Diversifiers for CECO
0 ETFs have low correlation with CECO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.40, roughly unchanged from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.40 | 0.41 | 0.43 | 66 | S&P 500 | CECO vs VOO | |
| State Street SPDR S&P 500 ETF | 0.40 | 0.41 | 0.43 | 66 | S&P 500 | CECO vs SPY | |
| Invesco S&P 500 Quality ETF | 0.41 | 0.40 | 0.42 | 65 | S&P 500, Large Cap Blend Equities | CECO vs SPHQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CECO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CECO and solid risk/return profiles. The least correlated is Exelon Corporation (EXC) (Utilities) with a 1Y correlation of -0.08, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exelon Corporation | -0.08 | -0.00 | 0.09 | 63 | Utilities | |
| Berkshire Hathaway Inc. | 0.00 | 0.17 | 0.25 | 53 | Financial Services | |
| Huazhu Group Limited | 0.02 | 0.08 | 0.13 | 71 | Consumer Cyclical | |
| American Electric Power Company, Inc. | 0.05 | 0.02 | 0.08 | 88 | Utilities | |
| The Liberty Braves Group | 0.07 | 0.18 | 0.24 | 68 | Communication Services |
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