Looking to balance out your exposure to CLB? The ETFs below have the lowest correlation with CLB — they tend to move on their own, which can help reduce risk when CLB drops. The stock ideas table highlights individual companies that behave independently from CLB.
Best Diversifiers for CLB
0 ETFs have low correlation with CLB (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of 0.50, down from 0.62 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | 0.50 | 0.55 | 0.62 | 63 | Energy Equities | CLB vs XLE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CLB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CLB and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.03, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.03 | 0.08 | 0.15 | 78 | Technology | |
| Bristol-Myers Squibb Company | 0.12 | 0.12 | 0.13 | 63 | Healthcare | |
| The Estee Lauder Companies Inc. | 0.16 | 0.17 | 0.20 | 52 | Consumer Defensive | |
| Corteva, Inc. | 0.17 | 0.25 | 0.34 | 51 | Basic Materials | |
| Huntington Ingalls Industries, Inc | 0.20 | 0.20 | 0.29 | 62 | Industrials |
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