Looking to diversify beyond CHPX? The ETFs below have historically moved differently from CHPX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for CHPX
626 ETFs have low correlation with CHPX (below 0.3), 163 of which are negatively correlated. The least correlated is iShares U.S. Insurance ETF (IAK) (Financials Equities) with a 1Y correlation of -0.37, roughly unchanged from -0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares U.S. Insurance ETF | -0.37 | -0.37 | -0.37 | 53 | Financials Equities | CHPX vs IAK | |
| Defiance Daily Target 2X Short MSTR ETF | -0.37 | -0.37 | -0.37 | 52 | Inverse Equities | CHPX vs SMST | |
| Alpha Architect Tail Risk ETF | -0.36 | -0.36 | -0.36 | 56 | Options Trading | CHPX vs CAOS | |
| Texas Capital Government Money Market ETF | -0.19 | — | — | 100 | Money Market | CHPX vs MMKT | |
| iShares Residential and Multisector Real Estate ET... | -0.19 | -0.19 | -0.19 | 61 | REIT | CHPX vs REZ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CHPX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Seagate Technology plc (STX) (Technology) with a 1Y correlation of 0.66, roughly unchanged from 0.66 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Seagate Technology plc | 0.66 | 0.66 | 0.66 | 99 | Technology | |
| Marvell Technology, Inc. | 0.76 | 0.76 | 0.76 | 87 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.78 | 0.78 | 0.78 | 87 | Technology |
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