Looking to balance out your exposure to CHX? The ETFs below have the lowest correlation with CHX — they tend to move on their own, which can help reduce risk when CHX drops. The stock ideas table highlights individual companies that behave independently from CHX.
Best Diversifiers for CHX
2 ETFs have low correlation with CHX (below 0.3), 1 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of -0.02, down from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | -0.02 | 0.26 | 0.38 | 70 | S&P 500 | CHX vs SPY | |
| State Street Energy Select Sector SPDR ETF | 0.27 | 0.57 | 0.69 | 63 | Energy Equities | CHX vs XLE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CHX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CHX and solid risk/return profiles. The least correlated is Freeport-McMoRan Inc. (FCX) (Basic Materials) with a 1Y correlation of 0.06, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Freeport-McMoRan Inc. | 0.06 | 0.31 | 0.45 | 80 | Basic Materials | |
| Baker Hughes Company | 0.25 | 0.51 | 0.61 | 89 | Energy | |
| Chevron Corporation | 0.26 | 0.48 | 0.60 | 83 | Energy | |
| Halliburton Company | 0.33 | 0.60 | 0.72 | 94 | Energy |
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