Looking to balance out your exposure to CNL? The ETFs below have the lowest correlation with CNL — they tend to move on their own, which can help reduce risk when CNL drops. The stock ideas table highlights individual companies that behave independently from CNL.
Best Diversifiers for CNL
1 ETFs have low correlation with CNL (below 0.3), 1 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of -1.00, roughly unchanged from -1.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | -1.00 | -1.00 | -1.00 | 73 | Nasdaq-100 | CNL vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CNL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CNL and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Carpenter Technology Corporation | 0.22 | — | — | 88 | Industrials | |
| Kinross Gold Corporation | 0.63 | — | — | 79 | Basic Materials |
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