Looking to balance out your exposure to CODI? The ETFs below have the lowest correlation with CODI — they tend to move on their own, which can help reduce risk when CODI drops. The stock ideas table highlights individual companies that behave independently from CODI.
Best Diversifiers for CODI
4 ETFs have low correlation with CODI (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Information Technology ETF (VGT) (Technology Equities) with a 1Y correlation of 0.15, down from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Information Technology ETF | 0.15 | 0.28 | 0.36 | 50 | Technology Equities | CODI vs VGT | |
| iShares Core S&P 500 ETF | 0.24 | 0.37 | 0.44 | 66 | S&P 500 | CODI vs IVV | |
| State Street SPDR S&P 500 ETF | 0.25 | 0.38 | 0.44 | 65 | S&P 500 | CODI vs SPY | |
| Amplify CWP Enhanced Dividend Income ETF | 0.27 | 0.41 | 0.44 | 72 | Derivative Income | CODI vs DIVO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CODI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CODI and solid risk/return profiles. The least correlated is AbbVie Inc. (ABBV) (Healthcare) with a 1Y correlation of 0.00, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | 0.00 | 0.12 | 0.11 | 81 | Healthcare | |
| Berkshire Hathaway Inc. | 0.13 | 0.29 | 0.34 | 53 | Financial Services | |
| JPMorgan Chase & Co. | 0.16 | 0.30 | 0.35 | 71 | Financial Services | |
| Caterpillar Inc. | 0.16 | 0.35 | 0.36 | 96 | Industrials | |
| Transocean Ltd. | 0.18 | 0.26 | 0.27 | 86 | Energy |
Build a portfolio that complements CODI
Add CODI to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with CODI