Looking to balance out your exposure to CNC? The ETFs below have the lowest correlation with CNC — they tend to move on their own, which can help reduce risk when CNC drops. The stock ideas table highlights individual companies that behave independently from CNC.
Best Diversifiers for CNC
10 ETFs have low correlation with CNC (below 0.3), 1 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of -0.00, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | -0.00 | 0.02 | 0.09 | 94 | Semiconductors, Technology Equities | CNC vs SMH | |
| iShares 0-3 Month Treasury Bond ETF | 0.01 | 0.01 | -0.01 | 100 | Ultrashort Bond | CNC vs SGOV | |
| Vanguard International High Dividend Yield ETF | 0.09 | 0.14 | 0.24 | 70 | Dividend, Foreign Large Cap Equities | CNC vs VYMI | |
| Schwab Fundamental International Equity ETF | 0.10 | 0.15 | 0.23 | 76 | Foreign Large Cap Equities, Large Cap Value Equities | CNC vs FNDF | |
| iShares Core S&P Total U.S. Stock Market ETF | 0.10 | 0.15 | 0.25 | 59 | Large Cap Blend Equities | CNC vs ITOT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CNC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CNC and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of -0.08, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | -0.08 | -0.02 | 0.11 | 87 | Technology | |
| Broadcom Inc. | -0.06 | -0.02 | 0.07 | 72 | Technology | |
| Credo Technology Group Holding Ltd | -0.04 | -0.06 | -0.01 | 88 | Technology | |
| Altria Group, Inc. | -0.04 | 0.10 | 0.19 | 72 | Consumer Defensive | |
| NVIDIA Corporation | -0.04 | -0.03 | 0.04 | 72 | Technology |
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