Looking to balance out your exposure to CHKP? The ETFs below have the lowest correlation with CHKP — they tend to move on their own, which can help reduce risk when CHKP drops. The stock ideas table highlights individual companies that behave independently from CHKP.
Best Diversifiers for CHKP
14 ETFs have low correlation with CHKP (below 0.3), 3 of which are negatively correlated. The least correlated is iShares Silver Trust (SLV) (Silver) with a 1Y correlation of -0.05, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Silver Trust | -0.05 | 0.01 | 0.08 | 51 | Silver, Precious Metals | CHKP vs SLV | |
| T-Rex 2X Long Alphabet Daily Target ETF | -0.02 | 0.11 | 0.11 | 94 | Leveraged Bonds | CHKP vs GOOX | |
| United States Oil Fund LP | -0.01 | -0.00 | 0.07 | 66 | Oil & Gas | CHKP vs USO | |
| Invesco S&P 500 Momentum ETF | 0.08 | 0.22 | 0.32 | 75 | Momentum, S&P 500 | CHKP vs SPMO | |
| iMGP DBi Managed Futures Strategy ETF | 0.10 | 0.12 | 0.04 | 83 | Systematic Trend | CHKP vs DBMF |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHKP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHKP and solid risk/return profiles. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of -0.12, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | -0.12 | 0.05 | 0.13 | 94 | Healthcare | |
| Eaton Corporation plc | -0.12 | 0.10 | 0.22 | 67 | Industrials | |
| The Coca-Cola Company | -0.11 | 0.09 | 0.18 | 62 | Consumer Defensive | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.11 | 0.09 | 0.18 | 95 | Technology | |
| Marvell Technology Group Ltd. | -0.10 | 0.07 | 0.21 | 98 | Technology |
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