Looking to balance out your exposure to CIEN? The ETFs below have historically moved differently from CIEN, 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 CIEN
7 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.
How candidates are selected| 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 | -0.02 | 0.02 | 0.08 | 67 | Commodities | CIEN vs GSG | |
| Schwab U.S. Dividend Equity ETF | 0.02 | 0.20 | 0.36 | 95 | Dividend | CIEN vs SCHD | |
| SPDR S&P Dividend ETF | 0.03 | 0.20 | 0.34 | 62 | Mid Cap Value Equities, Dividend | CIEN vs SDY | |
| iShares Nasdaq Biotechnology ETF | 0.25 | 0.34 | 0.41 | 86 | Health & Biotech Equities | CIEN vs IBB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CIEN, 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 The Allstate Corporation (ALL) (Financial Services) with a 1Y correlation of -0.26, down from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Allstate Corporation | -0.26 | -0.05 | 0.08 | 82 | Financial Services | |
| Altria Group, Inc. | -0.22 | -0.12 | 0.01 | 66 | Consumer Defensive | |
| Cboe Global Markets, Inc. | -0.21 | -0.17 | -0.00 | 69 | Financial Services | |
| Verizon Communications Inc. | -0.15 | -0.09 | 0.02 | 66 | Communication Services | |
| Walmart Inc. | -0.12 | 0.06 | 0.13 | 62 | Consumer Defensive |
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