Looking to balance out your exposure to CNMD? The ETFs below have the lowest correlation with CNMD — they tend to move on their own, which can help reduce risk when CNMD drops. The stock ideas table highlights individual companies that behave independently from CNMD.
Best Diversifiers for CNMD
1 ETFs have low correlation with CNMD (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.26, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.26 | 0.30 | 0.45 | 67 | S&P 500 | CNMD vs SPY |
Diversification Analysis
Build a portfolio that complements CNMD
Add CNMD to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with CNMD