Looking to balance out your exposure to CNQ? The ETFs below have historically moved differently from CNQ, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for CNQ
32 ETFs have low correlation with CNQ (below 0.3), 20 of which are negatively correlated. The least correlated is Invesco Ultra Short Duration ETF (GSY) (Ultrashort Bond) with a 1Y correlation of -0.27, down from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Ultra Short Duration ETF | -0.27 | -0.08 | -0.02 | 99 | Ultrashort Bond | CNQ vs GSY | |
| iShares Core S&P 500 ETF | -0.15 | 0.12 | 0.28 | 72 | S&P 500 | CNQ vs IVV | |
| iShares S&P 100 ETF | -0.14 | 0.10 | 0.25 | 62 | Large Cap Blend Equities | CNQ vs OEF | |
| State Street SPDR S&P 500 ETF | -0.13 | 0.13 | 0.28 | 72 | S&P 500 | CNQ vs SPY | |
| JPMorgan Nasdaq Equity Premium Income ETF | -0.13 | 0.08 | — | 60 | Nasdaq-100, Derivative Income | CNQ vs JEPQ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CNQ, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Monster Beverage Corporation (MNST) (Consumer Defensive) with a 1Y correlation of -0.20, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Monster Beverage Corporation | -0.20 | -0.05 | 0.02 | 90 | Consumer Defensive | |
| General Electric Company | -0.18 | 0.03 | 0.21 | 75 | Industrials | |
| Synchrony Financial | -0.18 | 0.12 | 0.26 | 56 | Financial Services | |
| Williams-Sonoma, Inc. | -0.17 | 0.07 | 0.15 | 65 | Consumer Cyclical | |
| Alphabet Inc. Class A | -0.17 | 0.03 | 0.13 | 95 | Communication Services |
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