Looking to balance out your exposure to CHE? The ETFs below have the lowest correlation with CHE — they tend to move on their own, which can help reduce risk when CHE drops. The stock ideas table highlights individual companies that behave independently from CHE.
Best Diversifiers for CHE
3 ETFs have low correlation with CHE (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.01, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.01 | 0.14 | 0.25 | 74 | Nasdaq-100 | CHE vs QQQ | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.05 | 0.10 | 0.09 | 93 | Inflation-Protected Bonds | CHE vs VTIP | |
| iShares MSCI World ETF | 0.12 | 0.26 | 0.35 | 67 | Global Equities | CHE vs URTH |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHE and solid risk/return profiles. The least correlated is Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.12, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.12 | 0.02 | 0.14 | 76 | Technology | |
| ASML Holding N.V. | -0.04 | 0.07 | 0.17 | 94 | Technology | |
| Silicon Motion Technology Corporation | -0.02 | 0.06 | 0.13 | 98 | Technology | |
| Northrop Grumman Corporation | 0.02 | 0.19 | 0.18 | 54 | Industrials | |
| Applied Materials, Inc. | 0.02 | 0.09 | 0.18 | 97 | Technology |
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