Looking to balance out your exposure to CVI? The ETFs below have the lowest correlation with CVI — they tend to move on their own, which can help reduce risk when CVI drops. The stock ideas table highlights individual companies that behave independently from CVI.
Best Diversifiers for CVI
2 ETFs have low correlation with CVI (below 0.3), 2 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 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | -0.07 | 0.12 | 0.22 | 66 | S&P 500 | CVI vs SPY | |
| Global X Russell 2000 Covered Call ETF | -0.02 | 0.20 | 0.29 | 66 | Hedge Fund | CVI vs RYLD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CVI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CVI and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.02, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.02 | -0.01 | 0.10 | 76 | Technology | |
| Sunoco LP | 0.07 | 0.16 | 0.27 | 77 | Energy | |
| International Seaways, Inc. | 0.09 | 0.24 | 0.32 | 96 | Energy | |
| CVR Partners, LP | 0.26 | 0.32 | 0.38 | 83 | Basic Materials | |
| Petróleo Brasileiro S.A. - Petrobras | 0.29 | 0.28 | 0.33 | 87 | Energy |
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