Looking to balance out your exposure to CVE? The ETFs below have the lowest correlation with CVE — they tend to move on their own, which can help reduce risk when CVE drops. The stock ideas table highlights individual companies that behave independently from CVE.
Best Diversifiers for CVE
7 ETFs have low correlation with CVE (below 0.3), 4 of which are negatively correlated. The least correlated is Invesco NASDAQ 100 ETF (QQQM) (Nasdaq-100) with a 1Y correlation of -0.08, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco NASDAQ 100 ETF | -0.08 | 0.10 | 0.18 | 54 | Nasdaq-100 | CVE vs QQQM | |
| Invesco QQQ ETF | -0.07 | 0.10 | 0.18 | 53 | Nasdaq-100 | CVE vs QQQ | |
| State Street SPDR S&P 500 ETF | -0.06 | 0.15 | 0.27 | 65 | S&P 500 | CVE vs SPY | |
| Vanguard S&P 500 ETF | -0.06 | 0.15 | 0.27 | 66 | S&P 500 | CVE vs VOO | |
| Invesco S&P 500 Momentum ETF | 0.01 | 0.14 | 0.30 | 51 | Momentum, S&P 500 | CVE vs SPMO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CVE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CVE and solid risk/return profiles. The least correlated is Safran SA (SAFRY) (Industrials) with a 1Y correlation of -0.21, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Safran SA | -0.21 | -0.02 | 0.13 | 58 | Industrials | |
| Sun Life Financial Inc. | -0.15 | 0.10 | 0.29 | 88 | Financial Services | |
| AerCap Holdings N.V. | -0.14 | 0.08 | 0.27 | 77 | Industrials | |
| Brinker International, Inc. | -0.14 | 0.03 | 0.12 | 52 | Consumer Cyclical | |
| Howmet Aerospace Inc. | -0.12 | 0.07 | 0.24 | 84 | Industrials |
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