Looking to balance out your exposure to COP? The ETFs below have historically moved differently from COP, 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 COP
287 ETFs have low correlation with COP (below 0.3), 237 of which are negatively correlated. The least correlated is PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) (Multisector Bonds) with a 1Y correlation of -0.37, down from -0.12 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Multisector Bond Active Exchange-Traded Fund | -0.37 | -0.12 | — | 61 | Multisector Bonds | COP vs PYLD | |
| iShares Flexible Income Active ETF | -0.33 | -0.08 | — | 68 | Multisector Bonds | COP vs BINC | |
| Vanguard Short-Term Bond Index Fund ETF Shares | -0.33 | -0.19 | -0.13 | 56 | Short-Term Bond | COP vs BSV | |
| Vanguard Short-Term Corporate Bond ETF | -0.33 | -0.16 | -0.07 | 72 | Corporate Bonds | COP vs VCSH | |
| iShares National AMT-Free Muni Bond ETF | -0.33 | -0.12 | -0.09 | 59 | Municipal Bonds | COP vs MUB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for COP, 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 Delta Air Lines, Inc. (DAL) (Industrials) with a 1Y correlation of -0.29, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Delta Air Lines, Inc. | -0.29 | -0.05 | 0.09 | 90 | Industrials | |
| The Bank of Nova Scotia | -0.25 | 0.01 | 0.22 | 97 | Financial Services | |
| General Electric Company | -0.24 | -0.01 | 0.17 | 76 | Industrials | |
| ASML Holding N.V. | -0.23 | -0.03 | 0.08 | 96 | Technology | |
| Lam Research Corporation | -0.22 | -0.03 | 0.09 | 95 | Technology |
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