Looking to balance out your exposure to CVNA? The ETFs below have historically moved differently from CVNA, 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 CVNA
1 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 0.24, down from 0.41 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily S&P Biotech Bull 3x Shares | 0.24 | 0.33 | 0.41 | 94 | Leveraged Equities | CVNA vs LABU | |
| ProShares Ultra Semiconductors | 0.30 | 0.33 | 0.41 | 52 | Leveraged Equities, Semiconductors | CVNA vs USD | |
| Themes Global Systemically Important Banks ETF | 0.38 | — | — | 90 | Financials Equities | CVNA vs GSIB | |
| Vanguard S&P 500 ETF | 0.48 | 0.47 | 0.50 | 68 | S&P 500 | CVNA vs VOO | |
| State Street SPDR S&P 500 ETF | 0.49 | 0.48 | 0.50 | 67 | S&P 500 | CVNA vs SPY |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CVNA, 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 The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.15, down from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.15 | -0.04 | 0.03 | 90 | Consumer Defensive | |
| Cincinnati Financial Corporation | -0.08 | 0.13 | 0.17 | 76 | Financial Services | |
| Casey's General Stores, Inc. | -0.07 | 0.13 | 0.16 | 94 | Consumer Defensive | |
| Walmart Inc. | -0.06 | 0.10 | 0.14 | 62 | Consumer Defensive | |
| Entergy Corporation | -0.06 | 0.06 | 0.07 | 78 | Utilities |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements CVNA
Add CVNA to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with CVNA