Looking to balance out your exposure to CFLT? The ETFs below have the lowest correlation with CFLT — they tend to move on their own, which can help reduce risk when CFLT drops. The stock ideas table highlights individual companies that behave independently from CFLT.
Best Diversifiers for CFLT
3 ETFs have low correlation with CFLT (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.24, down from 0.55 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.24 | 0.46 | 0.55 | 59 | Nasdaq-100 | CFLT vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.25 | 0.44 | 0.51 | 60 | S&P 500 | CFLT vs SPY | |
| Vanguard S&P 500 ETF | 0.25 | 0.44 | 0.51 | 60 | S&P 500 | CFLT vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CFLT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CFLT and solid risk/return profiles. The least correlated is AppLovin Corporation (APP) (Communication Services) with a 1Y correlation of 0.03, down from 0.28 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AppLovin Corporation | 0.03 | 0.28 | — | 58 | Communication Services | |
| Life Time Group Holdings, Inc. | 0.03 | 0.25 | — | 68 | Consumer Cyclical | |
| Apple Inc | 0.05 | 0.22 | 0.34 | 88 | Technology | |
| Advanced Micro Devices, Inc. | 0.08 | 0.31 | 0.41 | 96 | Technology | |
| Tesla, Inc. | 0.09 | 0.30 | 0.40 | 50 | Consumer Cyclical |
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