Looking to balance out your exposure to CP? The ETFs below have historically moved differently from CP, 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 CP
4 ETFs have low correlation with CP (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.04, roughly unchanged from -0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.04 | 0.01 | -0.00 | 100 | Ultrashort Bond | CP vs SGOV | |
| Alerian MLP ETF | 0.18 | 0.29 | 0.38 | 67 | MLPs | CP vs AMLP | |
| Vanguard S&P 500 ETF | 0.28 | 0.43 | 0.51 | 78 | S&P 500 | CP vs VOO | |
| State Street SPDR S&P 500 ETF | 0.28 | 0.43 | 0.51 | 78 | S&P 500 | CP vs SPY | |
| Vanguard Total Stock Market ETF | 0.31 | 0.45 | 0.52 | 78 | Large Cap Blend Equities | CP vs VTI |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CP, 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 Datadog, Inc. (DDOG) (Technology) with a 1Y correlation of -0.05, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Datadog, Inc. | -0.05 | 0.10 | 0.19 | 83 | Technology | |
| Palo Alto Networks, Inc. | -0.01 | 0.08 | 0.18 | 90 | Technology | |
| Exxon Mobil Corporation | 0.02 | 0.17 | 0.25 | 85 | Energy | |
| Micron Technology, Inc. | 0.05 | 0.20 | 0.25 | 99 | Technology | |
| Sandisk Corporation | 0.05 | 0.11 | 0.11 | 100 | Technology |
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