Looking to balance out your exposure to CRDO? The ETFs below have the lowest correlation with CRDO — they tend to move on their own, which can help reduce risk when CRDO drops. The stock ideas table highlights individual companies that behave independently from CRDO.
Best Diversifiers for CRDO
114 ETFs have low correlation with CRDO (below 0.3), 13 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 -0.18, down from -0.00 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Morningstar Dividend Leaders Index Fun... | -0.18 | -0.00 | — | 69 | Large Cap Value Equities, Dividend | CRDO vs FDL | |
| iShares Core High Dividend ETF | -0.17 | -0.03 | — | 70 | Dividend, Large Cap Value Equities | CRDO vs HDV | |
| WisdomTree Floating Rate Treasury Fund | -0.14 | -0.06 | — | 100 | Government Bonds, Ultrashort Bond | CRDO vs USFR | |
| WisdomTree US High Dividend Fund | -0.14 | 0.03 | — | 72 | Large Cap Value Equities, Dividend | CRDO vs DHS | |
| iShares Select Dividend ETF | -0.09 | 0.07 | — | 64 | Large Cap Value Equities, Dividend | CRDO vs DVY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CRDO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CRDO and solid risk/return profiles. The least correlated is The Allstate Corporation (ALL) (Financial Services) with a 1Y correlation of -0.31, down from -0.11 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Allstate Corporation | -0.31 | -0.11 | — | 67 | Financial Services | |
| Duke Energy Corporation | -0.26 | -0.23 | -0.13 | 62 | Utilities | |
| Altria Group, Inc. | -0.24 | -0.14 | -0.06 | 72 | Consumer Defensive | |
| The Coca-Cola Company | -0.23 | -0.20 | — | 74 | Consumer Defensive | |
| The Southern Company | -0.23 | -0.21 | -0.11 | 55 | Utilities |
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Build a portfolio that complements CRDO
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