Looking to balance out your exposure to CHPT? The ETFs below have the lowest correlation with CHPT — they tend to move on their own, which can help reduce risk when CHPT drops. The stock ideas table highlights individual companies that behave independently from CHPT.
Best Diversifiers for CHPT
1 ETFs have low correlation with CHPT (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.25, roughly unchanged from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.25 | 0.32 | 0.35 | 89 | Dividend | CHPT vs SCHD | |
| Vanguard S&P 500 ETF | 0.47 | 0.44 | 0.48 | 70 | S&P 500 | CHPT vs VOO | |
| State Street SPDR S&P 500 ETF | 0.48 | 0.45 | 0.48 | 70 | S&P 500 | CHPT vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHPT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHPT and solid risk/return profiles. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of -0.00, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | -0.00 | 0.13 | 0.20 | 52 | Financial Services | |
| NextEra Energy, Inc. | 0.15 | 0.14 | 0.19 | 73 | Utilities | |
| UnitedHealth Group Incorporated | 0.19 | 0.06 | 0.07 | 77 | Healthcare | |
| NVIDIA Corporation | 0.21 | 0.24 | 0.38 | 66 | Technology | |
| Alphabet Inc. Class A | 0.21 | 0.23 | 0.31 | 97 | Communication Services |
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