Looking to balance out your exposure to CSIQ? The ETFs below have the lowest correlation with CSIQ — they tend to move on their own, which can help reduce risk when CSIQ drops. The stock ideas table highlights individual companies that behave independently from CSIQ.
Best Diversifiers for CSIQ
3 ETFs have low correlation with CSIQ (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily MSCI South Korea Bull 3X Shares (KORU) (South Korea Equities) with a 1Y correlation of 0.23, roughly unchanged from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily MSCI South Korea Bull 3X Shares | 0.23 | 0.29 | 0.31 | 89 | South Korea Equities, Leveraged Equities, Asia Pacific Equities | CSIQ vs KORU | |
| Vanguard S&P 500 ETF | 0.30 | 0.34 | 0.37 | 66 | S&P 500 | CSIQ vs VOO | |
| State Street SPDR S&P 500 ETF | 0.30 | 0.34 | 0.37 | 66 | S&P 500 | CSIQ vs SPY | |
| STMicroelectronics NV ADRhedged | 0.31 | — | — | 78 | Technology Equities | CSIQ vs STHH |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CSIQ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CSIQ and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.23, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.23 | -0.11 | -0.01 | 53 | Industrials | |
| Consolidated Edison, Inc. | -0.20 | -0.06 | -0.02 | 70 | Utilities | |
| Duke Energy Corporation | -0.18 | -0.05 | -0.03 | 66 | Utilities | |
| The Coca-Cola Company | -0.14 | -0.02 | 0.01 | 83 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.10 | 0.08 | 0.14 | 75 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements CSIQ
Add CSIQ to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with CSIQ