Looking to balance out your exposure to CNXC? The ETFs below have the lowest correlation with CNXC — they tend to move on their own, which can help reduce risk when CNXC drops. The stock ideas table highlights individual companies that behave independently from CNXC.
Best Diversifiers for CNXC
1 ETFs have low correlation with CNXC (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 0.23, down from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.23 | 0.34 | 0.44 | 74 | S&P 500 | CNXC vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CNXC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CNXC and solid risk/return profiles. The least correlated is Sterling Construction Company, Inc. (STRL) (Industrials) with a 1Y correlation of -0.10, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Sterling Construction Company, Inc. | -0.10 | 0.06 | 0.17 | 98 | Industrials | |
| Petróleo Brasileiro S.A. - Petrobras | -0.06 | 0.14 | 0.13 | 88 | Energy | |
| Uranium Energy Corp. | -0.06 | 0.08 | 0.18 | 81 | Energy | |
| LightPath Technologies, Inc. | -0.04 | 0.03 | 0.12 | 95 | Technology | |
| Sibanye Stillwater Limited | -0.04 | 0.12 | 0.16 | 74 | Basic Materials |
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