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
1 ETFs have low correlation with CODI (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 0.30, down from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.30 | 0.39 | 0.46 | 74 | S&P 500 | CODI vs SPY |
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 0.04, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AbbVie Inc. | 0.04 | 0.11 | 0.11 | 68 | Healthcare | |
| Transocean Ltd. | 0.20 | 0.29 | 0.28 | 90 | Energy |
Build a portfolio that complements CODI
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