Looking to diversify beyond CNCG? The ETFs below have the lowest correlation with CNCG — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from CNCG.
Best Diversifiers for CNCG
1 ETFs have low correlation with CNCG (below 0.3), 1 of which are negatively correlated. The least correlated is Direxion Daily Semiconductor Bull 3X ETF (SOXL) (Leveraged Equities) with a 1Y correlation of -0.07, roughly unchanged from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Semiconductor Bull 3X ETF | -0.07 | -0.07 | -0.07 | 93 | Leveraged Equities, Semiconductors | CNCG vs SOXL |
Diversification Analysis
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