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
5 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 -0.10, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.10 | 0.03 | 0.07 | 66 | Oil & Gas | CSIQ vs USO | |
| Direxion Daily South Korea Bull 3X Shares | 0.15 | 0.26 | 0.30 | 97 | Leveraged Equities | CSIQ vs KORU | |
| Vanguard S&P 500 ETF | 0.26 | 0.33 | 0.36 | 74 | S&P 500 | CSIQ vs VOO | |
| State Street SPDR S&P 500 ETF | 0.26 | 0.33 | 0.36 | 74 | S&P 500 | CSIQ vs SPY | |
| STMicroelectronics NV ADRhedged | 0.28 | — | — | 84 | Technology Equities | CSIQ vs STHH |
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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 Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.16, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.16 | -0.04 | -0.03 | 57 | Utilities | |
| Exxon Mobil Corporation | -0.08 | 0.10 | 0.14 | 86 | Energy | |
| The Coca-Cola Company | -0.07 | 0.02 | 0.03 | 62 | Consumer Defensive | |
| Monster Beverage Corporation | 0.07 | 0.15 | 0.17 | 80 | Consumer Defensive | |
| General Electric Company | 0.12 | 0.18 | 0.22 | 69 | Industrials |
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