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
127 ETFs have low correlation with CRDO (below 0.3), 33 of which are negatively correlated. The least correlated is Franklin U.S. Low Volatility High Dividend Index ETF (LVHD) (Dividend) with a 1Y correlation of -0.25, down from -0.09 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin U.S. Low Volatility High Dividend Index E... | -0.25 | -0.09 | — | 53 | Dividend | CRDO vs LVHD | |
| First Trust Morningstar Dividend Leaders Index Fun... | -0.24 | -0.03 | — | 76 | Large Cap Value Equities, Dividend | CRDO vs FDL | |
| iShares Core High Dividend ETF | -0.23 | -0.05 | — | 78 | Dividend, Large Cap Value Equities | CRDO vs HDV | |
| WisdomTree US High Dividend Fund | -0.18 | 0.02 | — | 83 | Large Cap Value Equities, Dividend | CRDO vs DHS | |
| WisdomTree Floating Rate Treasury Fund | -0.17 | -0.06 | — | 100 | Government Bonds, Ultrashort Bond | CRDO vs USFR |
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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 -0.37, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Allstate Corporation | -0.37 | -0.14 | -0.03 | 84 | Financial Services | |
| Waste Management, Inc. | -0.34 | -0.10 | -0.03 | 53 | Industrials | |
| Colgate-Palmolive Company | -0.31 | -0.25 | -0.15 | 53 | Consumer Defensive | |
| Altria Group, Inc. | -0.31 | -0.19 | -0.09 | 81 | Consumer Defensive | |
| Duke Energy Corporation | -0.30 | -0.24 | -0.14 | 66 | Utilities |
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