Looking to balance out your exposure to CRDO? The ETFs below have historically moved differently from CRDO, 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 CRDO
145 ETFs have low correlation with CRDO (below 0.3), 38 of which are negatively correlated. The least correlated is First Trust Morningstar Dividend Leaders Index Fund (FDL) (Large Cap Value Equities) with a 1Y correlation of -0.28, down from -0.05 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Morningstar Dividend Leaders Index Fun... | -0.28 | -0.05 | — | 92 | Large Cap Value Equities, Dividend | CRDO vs FDL | |
| Invesco S&P 500® High Dividend Low Volatility ETF | -0.26 | -0.09 | — | 53 | Dividend, S&P 500, Low Volatility | CRDO vs SPHD | |
| iShares Core High Dividend ETF | -0.26 | -0.07 | — | 92 | Dividend, Large Cap Value Equities | CRDO vs HDV | |
| Franklin U.S. Low Volatility High Dividend Index E... | -0.25 | -0.09 | — | 61 | Dividend, Low Volatility | CRDO vs LVHD | |
| Invesco High Yield Equity Dividend Achievers™ ETF | -0.20 | 0.01 | — | 71 | Mid Cap Value Equities, Dividend | CRDO vs PEY |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CRDO, 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 The Allstate Corporation (ALL) (Financial Services) with a 1Y correlation of -0.36, down from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Allstate Corporation | -0.36 | -0.13 | -0.04 | 82 | Financial Services | |
| Altria Group, Inc. | -0.33 | -0.20 | -0.10 | 66 | Consumer Defensive | |
| Colgate-Palmolive Company | -0.32 | -0.26 | -0.16 | 59 | Consumer Defensive | |
| McKesson Corporation | -0.32 | -0.16 | — | 67 | Healthcare | |
| The Coca-Cola Company | -0.31 | -0.23 | -0.10 | 90 | Consumer Defensive |
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