Looking to balance out your exposure to CSIQ? The ETFs below have historically moved differently from CSIQ, 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 CSIQ
2 ETFs have low correlation with CSIQ (below 0.3), 1 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.04, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.04 | 0.03 | 0.07 | 55 | Oil & Gas | CSIQ vs USO | |
| Direxion Daily MSCI South Korea Bull 3X Shares | 0.24 | 0.28 | 0.31 | 78 | South Korea Equities, Leveraged Equities, Asia Pacific Equities | CSIQ vs KORU | |
| State Street SPDR S&P 500 ETF | 0.31 | 0.35 | 0.38 | 67 | S&P 500 | CSIQ vs SPY | |
| Vanguard S&P 500 ETF | 0.31 | 0.35 | 0.37 | 68 | S&P 500 | CSIQ vs VOO | |
| STMicroelectronics NV ADRhedged | 0.33 | — | — | 80 | Technology Equities | CSIQ vs STHH |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CSIQ, 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 Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.25, down from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.25 | -0.07 | -0.03 | 59 | Utilities | |
| Duke Energy Corporation | -0.24 | -0.07 | -0.03 | 56 | Utilities | |
| The Coca-Cola Company | -0.15 | -0.02 | 0.01 | 90 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.11 | 0.07 | 0.13 | 84 | Energy | |
| Occidental Petroleum Corporation | -0.04 | 0.13 | 0.17 | 70 | Energy |
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