Looking to diversify beyond CNDX.L? The ETFs below have the lowest correlation with CNDX.L — 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 CNDX.L.
Best Diversifiers for CNDX.L
33 ETFs have low correlation with CNDX.L (below 0.3), 10 of which are negatively correlated. The least correlated is iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) (Energy Equities) with a 1Y correlation of -0.19, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | -0.19 | 0.05 | 0.17 | 60 | Energy Equities, S&P 500 | CNDX.L vs IUES.L | |
| iShares MSCI Europe Energy Sector UCITS ETF EUR (D... | -0.18 | 0.05 | — | 78 | Energy Equities | CNDX.L vs EYED.L | |
| iShares MSCI Europe Energy Sector UCITS ETF EUR (A... | -0.15 | 0.06 | 0.17 | 78 | Energy Equities | CNDX.L vs ESIE.L | |
| iShares MSCI World Energy Sector UCITS ETF USD (Di... | -0.15 | 0.08 | — | 59 | Energy Equities | CNDX.L vs WENS.L | |
| L&G All Commodities UCITS ETF | -0.12 | 0.03 | 0.08 | 64 | Commodities | CNDX.L vs BCOG.L |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CNDX.L, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CNDX.L and solid risk/return profiles. The least correlated is JP Morgan Global Growth & Income plc (JGGI.L) (Financial Services) with a 1Y correlation of 0.66, roughly unchanged from 0.66 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| JP Morgan Global Growth & Income plc | 0.66 | 0.68 | 0.66 | 76 | Financial Services |
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