Looking to balance out your exposure to CGNX? The ETFs below have the lowest correlation with CGNX — they tend to move on their own, which can help reduce risk when CGNX drops. The stock ideas table highlights individual companies that behave independently from CGNX.
Best Diversifiers for CGNX
0 ETFs have low correlation with CGNX (below 0.3), 0 of which are negatively correlated. The least correlated is Amplify CWP Enhanced Dividend Income ETF (DIVO) (Derivative Income) with a 1Y correlation of 0.38, down from 0.49 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Amplify CWP Enhanced Dividend Income ETF | 0.38 | 0.44 | 0.49 | 66 | Derivative Income | CGNX vs DIVO | |
| Roundhill Generative AI & Technology ETF | 0.53 | 0.52 | — | 88 | Technology Equities | CGNX vs CHAT | |
| Spear Alpha ETF | 0.54 | 0.51 | — | 57 | Technology Equities | CGNX vs SPRX | |
| Vanguard S&P 500 ETF | 0.55 | 0.58 | 0.64 | 68 | S&P 500 | CGNX vs VOO | |
| Invesco S&P 500 Momentum ETF | 0.55 | 0.48 | 0.53 | 68 | Momentum, S&P 500 | CGNX vs SPMO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CGNX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CGNX and solid risk/return profiles. The least correlated is Smithfield Foods, Inc (SFD) (Consumer Defensive) with a 1Y correlation of -0.11, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Smithfield Foods, Inc | -0.11 | -0.01 | -0.01 | 52 | Consumer Defensive | |
| Delek US Holdings, Inc. | -0.05 | 0.07 | 0.13 | 88 | Energy | |
| Exelon Corporation | -0.05 | 0.05 | 0.15 | 61 | Utilities | |
| Monster Beverage Corporation | -0.03 | 0.12 | 0.26 | 93 | Consumer Defensive | |
| SwissCom AG | -0.01 | 0.02 | 0.07 | 64 | Communication Services |
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