Looking to balance out your exposure to CHRS? The ETFs below have the lowest correlation with CHRS — they tend to move on their own, which can help reduce risk when CHRS drops. The stock ideas table highlights individual companies that behave independently from CHRS.
Best Diversifiers for CHRS
0 ETFs have low correlation with CHRS (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.33, roughly unchanged from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.33 | 0.31 | 0.36 | 73 | Nasdaq-100 | CHRS vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHRS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHRS and solid risk/return profiles. The least correlated is Energy Transfer LP (ET) (Energy) with a 1Y correlation of -0.00, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | -0.00 | 0.13 | 0.16 | 69 | Energy | |
| Sandisk Corp | 0.12 | — | — | 100 | Technology | |
| Atlas Energy Solutions Inc | 0.13 | 0.19 | — | 61 | Energy | |
| Canadian Pacific Railway Limited | 0.19 | 0.18 | 0.21 | 51 | Industrials | |
| Tri Pointe Homes, Inc. | 0.22 | 0.29 | 0.29 | 79 | Consumer Cyclical |
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