Looking to balance out your exposure to CNR? The ETFs below have the lowest correlation with CNR — they tend to move on their own, which can help reduce risk when CNR drops. The stock ideas table highlights individual companies that behave independently from CNR.
Best Diversifiers for CNR
2 ETFs have low correlation with CNR (below 0.3), 1 of which are negatively correlated. The least correlated is Direxion Daily GOOGL Bull 2X Shares (GGLL) (Leveraged Equities) with a 1Y correlation of -0.03, down from 0.07 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily GOOGL Bull 2X Shares | -0.03 | 0.07 | — | 94 | Leveraged Equities | CNR vs GGLL | |
| iShares Core Growth Allocation ETF | 0.07 | 0.22 | 0.24 | 67 | Diversified Portfolio | CNR vs AOR |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CNR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CNR and solid risk/return profiles. The least correlated is Howmet Aerospace Inc. (HWM) (Industrials) with a 1Y correlation of -0.02, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Howmet Aerospace Inc. | -0.02 | 0.13 | 0.22 | 79 | Industrials | |
| Union Pacific Corporation | 0.00 | 0.14 | 0.18 | 68 | Industrials | |
| Penn National Gaming, Inc. | 0.02 | 0.13 | 0.18 | 56 | Consumer Cyclical | |
| Altria Group, Inc. | 0.03 | 0.10 | 0.16 | 69 | Consumer Defensive | |
| Anheuser-Busch InBev SA/NV | 0.04 | 0.06 | 0.11 | 54 | Consumer Defensive |
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