Looking to balance out your exposure to CVE? The ETFs below have historically moved differently from CVE, 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 CVE
6 ETFs have low correlation with CVE (below 0.3), 4 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 -0.07, down from 0.26 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | -0.07 | 0.14 | 0.26 | 71 | S&P 500 | CVE vs SPY | |
| Vanguard S&P 500 ETF | -0.07 | 0.14 | 0.26 | 72 | S&P 500 | CVE vs VOO | |
| Invesco NASDAQ 100 ETF | -0.06 | 0.10 | 0.18 | 54 | Nasdaq-100 | CVE vs QQQM | |
| Invesco QQQ ETF | -0.06 | 0.10 | 0.17 | 54 | Nasdaq-100 | CVE vs QQQ | |
| Global X Copper Miners ETF | 0.04 | 0.26 | 0.39 | 76 | Copper | CVE vs COPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CVE, 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 Safran SA (SAFRY) (Industrials) with a 1Y correlation of -0.22, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Safran SA | -0.22 | -0.03 | 0.12 | 66 | Industrials | |
| Sun Life Financial Inc. | -0.18 | 0.09 | 0.27 | 90 | Financial Services | |
| AerCap Holdings N.V. | -0.16 | 0.07 | 0.26 | 85 | Industrials | |
| Brinker International, Inc. | -0.15 | 0.03 | 0.11 | 68 | Consumer Cyclical | |
| Dave Inc. | -0.14 | 0.02 | 0.04 | 76 | Financial Services |
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