Looking to balance out your exposure to CP? The ETFs below have the lowest correlation with CP — they tend to move on their own, which can help reduce risk when CP drops. The stock ideas table highlights individual companies that behave independently from CP.
Best Diversifiers for CP
2 ETFs have low correlation with CP (below 0.3), 2 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.19, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.19 | 0.00 | 0.11 | 66 | Oil & Gas | CP vs USO | |
| iShares 0-3 Month Treasury Bond ETF | -0.08 | -0.01 | -0.00 | 100 | Ultrashort Bond | CP vs SGOV | |
| Vanguard S&P 500 ETF | 0.36 | 0.46 | 0.53 | 70 | S&P 500 | CP vs VOO | |
| State Street SPDR S&P 500 ETF | 0.36 | 0.46 | 0.53 | 70 | S&P 500 | CP vs SPY | |
| Vanguard Total Stock Market ETF | 0.39 | 0.48 | 0.54 | 68 | Large Cap Blend Equities | CP vs VTI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CP and solid risk/return profiles. The least correlated is Datadog, Inc. (DDOG) (Technology) with a 1Y correlation of -0.06, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Datadog, Inc. | -0.06 | 0.10 | 0.19 | 81 | Technology | |
| Palo Alto Networks, Inc. | -0.02 | 0.08 | 0.19 | 67 | Technology | |
| Chevron Corporation | 0.02 | 0.18 | 0.28 | 83 | Energy | |
| Exxon Mobil Corporation | 0.03 | 0.17 | 0.26 | 85 | Energy | |
| Energy Transfer LP | 0.04 | 0.23 | 0.32 | 69 | Energy |
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