Looking to diversify beyond CONL? The ETFs below have the lowest correlation with CONL — 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 CONL.
Best Diversifiers for CONL
642 ETFs have low correlation with CONL (below 0.3), 54 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Enhanced Short-Term Bond Active ETF | -0.10 | — | — | 100 | Ultrashort Bond | CONL vs CSHP | |
| Obra Opportunistic Structured Products ETF | -0.10 | -0.07 | -0.07 | 69 | Multisector Bonds | CONL vs OOSP | |
| iShares Diversified Commodity Swap UCITS ETF | -0.10 | 0.01 | — | 82 | Commodities | CONL vs ISCMF | |
| Dimensional National Municipal Bond ETF | -0.09 | -0.02 | 0.04 | 77 | Municipal Bonds | CONL vs DFNM | |
| First Trust Merger Arbitrage ETF | -0.09 | 0.07 | 0.07 | 50 | Long-Short | CONL vs MARB |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CONL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CONL and solid risk/return profiles. The least correlated is Zoom Video Communications, Inc. (ZM) (Communication Services) with a 1Y correlation of 0.18, down from 0.30 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Zoom Video Communications, Inc. | 0.18 | 0.31 | — | 69 | Communication Services | |
| Apple Inc | 0.21 | 0.22 | — | 90 | Technology | |
| Powell Industries, Inc. | 0.24 | 0.33 | 0.32 | 98 | Industrials | |
| Etsy, Inc. | 0.27 | 0.28 | — | 52 | Consumer Cyclical | |
| Alphabet Inc Class A | 0.28 | 0.32 | — | 96 | Communication Services |
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