Looking to balance out your exposure to CVNA? The ETFs below have the lowest correlation with CVNA — they tend to move on their own, which can help reduce risk when CVNA drops. The stock ideas table highlights individual companies that behave independently from CVNA.
Best Diversifiers for CVNA
2 ETFs have low correlation with CVNA (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily S&P Biotech Bull 3x Shares (LABU) (Leveraged Equities) with a 1Y correlation of 0.26, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily S&P Biotech Bull 3x Shares | 0.26 | 0.36 | 0.42 | 91 | Leveraged Equities | CVNA vs LABU | |
| ProShares Ultra Semiconductors | 0.29 | 0.33 | 0.41 | 82 | Leveraged Equities, Semiconductors | CVNA vs USD | |
| Themes Global Systemically Important Banks ETF | 0.36 | — | — | 80 | Financials Equities | CVNA vs GSIB | |
| Invesco QQQ ETF | 0.45 | 0.45 | 0.51 | 59 | Nasdaq-100 | CVNA vs QQQ | |
| Vanguard S&P 500 ETF | 0.45 | 0.48 | 0.50 | 59 | S&P 500 | CVNA vs VOO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CVNA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CVNA and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.13, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.13 | -0.03 | 0.03 | 74 | Consumer Defensive | |
| Casey's General Stores, Inc. | -0.03 | 0.15 | 0.17 | 91 | Consumer Defensive | |
| Entergy Corporation | -0.02 | 0.07 | 0.08 | 88 | Utilities | |
| Walmart Inc. | -0.02 | 0.11 | 0.14 | 69 | Consumer Defensive | |
| YPF Sociedad Anónima | -0.00 | 0.13 | 0.11 | 67 | Energy |
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