Looking to balance out your exposure to COLD? The ETFs below have the lowest correlation with COLD — they tend to move on their own, which can help reduce risk when COLD drops. The stock ideas table highlights individual companies that behave independently from COLD.
Best Diversifiers for COLD
4 ETFs have low correlation with COLD (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Technology Select Sector SPDR ETF (XLK) (Technology Equities) with a 1Y correlation of 0.03, down from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Technology Select Sector SPDR ETF | 0.03 | 0.14 | 0.26 | 66 | Technology Equities | COLD vs XLK | |
| Invesco QQQ ETF | 0.10 | 0.19 | 0.29 | 61 | Nasdaq-100 | COLD vs QQQ | |
| Global X Artificial Intelligence & Technology ETF | 0.11 | 0.21 | 0.30 | 57 | Technology Equities | COLD vs AIQ | |
| iShares Core S&P 500 ETF | 0.21 | 0.31 | 0.39 | 67 | S&P 500 | COLD vs IVV | |
| ARK Genomic Revolution Multi-Sector ETF | 0.30 | 0.35 | 0.38 | 51 | Health & Biotech Equities, Actively Managed | COLD vs ARKG |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from COLD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to COLD and solid risk/return profiles. The least correlated is Arista Networks, Inc. (ANET) (Technology) with a 1Y correlation of -0.05, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Arista Networks, Inc. | -0.05 | 0.07 | 0.16 | 79 | Technology | |
| Devon Energy Corporation | -0.04 | 0.11 | 0.12 | 73 | Energy | |
| Corning Incorporated | 0.02 | 0.16 | 0.25 | 97 | Technology | |
| McKesson Corporation | 0.02 | -0.00 | 0.08 | 58 | Healthcare | |
| Walmart Inc. | 0.03 | 0.13 | 0.19 | 69 | Consumer Defensive |
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