Looking to balance out your exposure to CTMX? The ETFs below have the lowest correlation with CTMX — they tend to move on their own, which can help reduce risk when CTMX drops. The stock ideas table highlights individual companies that behave independently from CTMX.
Best Diversifiers for CTMX
1 ETFs have low correlation with CTMX (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.22, roughly unchanged from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.22 | 0.25 | 0.28 | 70 | S&P 500 | CTMX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CTMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CTMX and solid risk/return profiles. The least correlated is Lumentum Holdings Inc. (LITE) (Technology) with a 1Y correlation of 0.07, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lumentum Holdings Inc. | 0.07 | 0.16 | 0.19 | 99 | Technology | |
| Telefonaktiebolaget LM Ericsson (publ) | 0.11 | 0.18 | 0.20 | 85 | Technology | |
| Great Lakes Dredge & Dock Corporation | 0.14 | 0.21 | 0.23 | 83 | Industrials | |
| Lam Research Corporation | 0.14 | 0.15 | 0.20 | 98 | Technology | |
| Nuvation Bio Inc. | 0.18 | 0.25 | 0.28 | 71 | Healthcare |
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