Looking to balance out your exposure to CL? The ETFs below have the lowest correlation with CL — they tend to move on their own, which can help reduce risk when CL drops. The stock ideas table highlights individual companies that behave independently from CL.
Best Diversifiers for CL
236 ETFs have low correlation with CL (below 0.3), 126 of which are negatively correlated. The least correlated is ProShares Ultra Semiconductors (USD) (Leveraged Equities) with a 1Y correlation of -0.36, down from -0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Semiconductors | -0.36 | -0.25 | -0.10 | 70 | Leveraged Equities, Semiconductors | CL vs USD | |
| Direxion Daily Technology Bull 3X Shares | -0.31 | -0.17 | -0.00 | 56 | Leveraged Equities, Technology Equities | CL vs TECL | |
| Fidelity MSCI Information Technology Index ETF | -0.31 | -0.17 | -0.01 | 58 | Technology Equities | CL vs FTEC | |
| Vanguard Information Technology ETF | -0.31 | -0.17 | -0.01 | 57 | Technology Equities | CL vs VGT | |
| iShares Global Tech ETF | -0.30 | -0.17 | -0.01 | 71 | Technology Equities | CL vs IXN |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CL and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.31, down from -0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.31 | -0.23 | -0.10 | 65 | Technology | |
| Credo Technology Group Holding Ltd | -0.31 | -0.25 | -0.15 | 83 | Technology | |
| CrowdStrike Holdings, Inc. | -0.28 | -0.14 | -0.09 | 77 | Technology | |
| Broadcom Inc. | -0.28 | -0.20 | -0.05 | 71 | Technology | |
| Arista Networks, Inc. | -0.27 | -0.17 | -0.05 | 79 | Technology |
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Build a portfolio that complements CL
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