Looking to balance out your exposure to CNM? The ETFs below have the lowest correlation with CNM — they tend to move on their own, which can help reduce risk when CNM drops. The stock ideas table highlights individual companies that behave independently from CNM.
Best Diversifiers for CNM
0 ETFs have low correlation with CNM (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.37, roughly unchanged from 0.45 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.37 | 0.45 | — | 75 | Momentum, S&P 500 | CNM vs SPMO | |
| Vanguard S&P 500 ETF | 0.44 | 0.51 | 0.53 | 70 | S&P 500 | CNM vs VOO | |
| State Street SPDR S&P 500 ETF | 0.44 | 0.51 | — | 70 | S&P 500 | CNM vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CNM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CNM and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.07, down from 0.08 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.07 | 0.08 | — | 83 | Energy | |
| Eli Lilly and Company | -0.03 | 0.11 | 0.15 | 72 | Healthcare | |
| Palo Alto Networks, Inc. | 0.05 | 0.20 | — | 67 | Technology | |
| Walmart Inc. | 0.07 | 0.11 | — | 63 | Consumer Defensive | |
| Merck & Co., Inc. | 0.13 | 0.07 | — | 87 | Healthcare |
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