Looking to balance out your exposure to CENX? The ETFs below have the lowest correlation with CENX — they tend to move on their own, which can help reduce risk when CENX drops. The stock ideas table highlights individual companies that behave independently from CENX.
Best Diversifiers for CENX
4 ETFs have low correlation with CENX (below 0.3), 2 of which are negatively correlated. The least correlated is Breakwave Tanker Shipping ETF (BWET) (Commodities) with a 1Y correlation of -0.05, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Breakwave Tanker Shipping ETF | -0.05 | 0.05 | 0.04 | 99 | Commodities | CENX vs BWET | |
| United States Gasoline Fund LP | -0.02 | 0.14 | 0.22 | 69 | Oil & Gas | CENX vs UGA | |
| Vanguard Energy ETF | 0.10 | 0.28 | 0.41 | 64 | Energy Equities | CENX vs VDE | |
| iShares MSCI South Korea ETF | 0.28 | 0.34 | 0.37 | 96 | Asia Pacific Equities | CENX vs EWY | |
| ProShares UltraPro QQQ | 0.33 | 0.32 | 0.35 | 71 | Leveraged Equities | CENX vs TQQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CENX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CENX and solid risk/return profiles. The least correlated is Millicom International Cellular S.A. (TIGO) (Communication Services) with a 1Y correlation of 0.01, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Millicom International Cellular S.A. | 0.01 | 0.19 | 0.24 | 97 | Communication Services | |
| AerCap Holdings N.V. | 0.10 | 0.24 | 0.36 | 61 | Industrials | |
| Broadcom Inc. | 0.17 | 0.23 | 0.29 | 84 | Technology | |
| Apple Inc | 0.18 | 0.17 | 0.24 | 89 | Technology | |
| Marvell Technology Group Ltd. | 0.19 | 0.29 | 0.33 | 98 | Technology |
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