Looking to balance out your exposure to CPA? The ETFs below have historically moved differently from CPA, 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 CPA
4 ETFs have low correlation with CPA (below 0.3), 2 of which are negatively correlated. The least correlated is Alerian MLP ETF (AMLP) (MLPs) with a 1Y correlation of -0.21, down from 0.21 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Alerian MLP ETF | -0.21 | 0.08 | 0.21 | 67 | MLPs | CPA vs AMLP | |
| iShares 0-5 Year TIPS Bond ETF | -0.03 | 0.04 | 0.04 | 89 | Inflation-Protected Bonds | CPA vs STIP | |
| FlexShares Morningstar Global Upstream Natural Res... | 0.11 | 0.26 | 0.31 | 79 | Natural Resources | CPA vs GUNR | |
| Schwab U.S. Dividend Equity ETF | 0.16 | 0.31 | 0.39 | 95 | Dividend | CPA vs SCHD | |
| Global X FTSE Southeast Asia ETF | 0.41 | 0.34 | 0.37 | 88 | Asia Pacific Equities | CPA vs ASEA |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CPA, 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 Suncor Energy Inc. (SU) (Energy) with a 1Y correlation of -0.34, down from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Suncor Energy Inc. | -0.34 | -0.06 | 0.08 | 93 | Energy | |
| Enterprise Products Partners L.P. | -0.24 | 0.06 | 0.15 | 89 | Energy | |
| Shell plc | -0.24 | -0.01 | 0.11 | 80 | Energy | |
| Altria Group, Inc. | -0.13 | 0.02 | 0.10 | 66 | Consumer Defensive | |
| Kinder Morgan, Inc. | -0.09 | 0.14 | 0.20 | 69 | Energy |
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