Looking to balance out your exposure to CIEN? The ETFs below have the lowest correlation with CIEN — they tend to move on their own, which can help reduce risk when CIEN drops. The stock ideas table highlights individual companies that behave independently from CIEN.
Best Diversifiers for CIEN
5 ETFs have low correlation with CIEN (below 0.3), 2 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.15, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.15 | -0.06 | -0.02 | 100 | Ultrashort Bond | CIEN vs SGOV | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.04 | 0.01 | 0.08 | 51 | Commodities | CIEN vs GSG | |
| Schwab U.S. Dividend Equity ETF | 0.06 | 0.22 | 0.38 | 86 | Dividend | CIEN vs SCHD | |
| Invesco Dynamic Oil & Gas Services ETF | 0.21 | 0.22 | 0.26 | 84 | Energy Equities | CIEN vs PXJ | |
| iShares Nasdaq Biotechnology ETF | 0.23 | 0.33 | 0.41 | 85 | Health & Biotech Equities | CIEN vs IBB |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CIEN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CIEN and solid risk/return profiles. The least correlated is The Allstate Corporation (ALL) (Financial Services) with a 1Y correlation of -0.21, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Allstate Corporation | -0.21 | -0.03 | 0.09 | 84 | Financial Services | |
| Cboe Global Markets, Inc. | -0.19 | -0.16 | 0.01 | 62 | Financial Services | |
| Verizon Communications Inc. | -0.13 | -0.08 | 0.03 | 57 | Communication Services | |
| Exxon Mobil Corporation | -0.13 | -0.00 | 0.09 | 75 | Energy | |
| CF Industries Holdings, Inc. | -0.11 | 0.03 | 0.09 | 64 | Basic Materials |
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