Looking to diversify beyond CNXT? The ETFs below have the lowest correlation with CNXT — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from CNXT.
Best Diversifiers for CNXT
785 ETFs have low correlation with CNXT (below 0.3), 79 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.27, roughly unchanged from -0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.27 | -0.15 | -0.18 | 57 | Cryptocurrency | CNXT vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.27 | -0.20 | -0.20 | 52 | Cryptocurrency, Leveraged Cryptocurrency | CNXT vs SBIT | |
| Invesco DB US Dollar Index Bullish Fund | -0.24 | -0.24 | -0.26 | 51 | Currency | CNXT vs UUP | |
| Defiance Daily Target 2X Short MSTR ETF | -0.19 | -0.18 | -0.18 | 60 | Inverse Equities | CNXT vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.19 | -0.18 | -0.18 | 68 | Inverse Equities, Leveraged Equities | CNXT vs MSTZ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CNXT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CNXT and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.10, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.10 | 0.02 | 0.03 | 83 | Consumer Defensive | |
| CareTrust REIT, Inc. | -0.07 | -0.01 | 0.02 | 84 | Real Estate | |
| Johnson & Johnson | -0.05 | 0.02 | 0.01 | 97 | Healthcare | |
| Chevron Corporation | -0.04 | 0.01 | 0.08 | 70 | Energy | |
| TotalEnergies SE | -0.04 | 0.06 | 0.11 | 81 | Energy |
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