Looking to diversify beyond CNXT? The ETFs below have historically moved differently from CNXT, 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 CNXT
889 ETFs have low correlation with CNXT (below 0.3), 113 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.30, down from -0.16 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.30 | -0.16 | — | 51 | Cryptocurrency | CNXT vs BITI | |
| iShares U.S. Insurance ETF | -0.23 | -0.10 | 0.00 | 54 | Financials Equities | CNXT vs IAK | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.23 | -0.24 | -0.24 | 69 | Derivative Income | CNXT vs WNTR | |
| Invesco DB Energy Fund | -0.19 | -0.01 | 0.06 | 66 | Oil & Gas | CNXT vs DBE | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.17 | -0.08 | -0.03 | 100 | Government Bonds, Ultrashort Bond | CNXT vs BIL |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CNXT, 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 The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.16, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.16 | 0.00 | 0.02 | 87 | Consumer Defensive | |
| Chevron Corporation | -0.11 | -0.01 | 0.07 | 79 | Energy | |
| Johnson & Johnson | -0.09 | 0.01 | 0.00 | 96 | Healthcare | |
| CareTrust REIT, Inc. | -0.07 | -0.01 | 0.02 | 81 | Real Estate | |
| TotalEnergies SE | -0.07 | 0.04 | 0.09 | 90 | Energy |
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