Looking to balance out your exposure to CQP? The ETFs below have the lowest correlation with CQP — they tend to move on their own, which can help reduce risk when CQP drops. The stock ideas table highlights individual companies that behave independently from CQP.
Best Diversifiers for CQP
4 ETFs have low correlation with CQP (below 0.3), 4 of which are negatively correlated. The least correlated is Alger Concentrated Equity ETF (CNEQ) (Large Cap Growth Equities) with a 1Y correlation of -0.04, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Alger Concentrated Equity ETF | -0.04 | 0.05 | 0.05 | 57 | Large Cap Growth Equities | CQP vs CNEQ | |
| NEOS S&P 500 High Income ETF | -0.01 | 0.12 | — | 71 | Derivative Income, S&P 500 | CQP vs SPYI | |
| State Street SPDR S&P 500 ETF | -0.01 | 0.12 | 0.22 | 70 | S&P 500 | CQP vs SPY | |
| Vanguard S&P 500 ETF | -0.00 | 0.12 | 0.23 | 70 | S&P 500 | CQP vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CQP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CQP and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.07, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.07 | 0.01 | 0.11 | 78 | Technology | |
| Williams-Sonoma, Inc. | 0.02 | 0.09 | 0.13 | 65 | Consumer Cyclical | |
| Cadence Design Systems, Inc. | 0.02 | 0.06 | 0.13 | 68 | Technology | |
| Aveanna Healthcare Holdings Inc. | 0.04 | 0.10 | 0.09 | 54 | Healthcare | |
| National Retail Properties, Inc. | 0.11 | 0.16 | 0.19 | 62 | Real Estate |
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