Looking to balance out your exposure to CVS? The ETFs below have the lowest correlation with CVS — they tend to move on their own, which can help reduce risk when CVS drops. The stock ideas table highlights individual companies that behave independently from CVS.
Best Diversifiers for CVS
272 ETFs have low correlation with CVS (below 0.3), 29 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.08, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.08 | -0.09 | -0.04 | 100 | Government Bonds, Ultrashort Bond | CVS vs BIL | |
| Neos Enhanced Income Cash Alternative ETF | -0.08 | -0.00 | — | 99 | Ultrashort Bond | CVS vs CSHI | |
| ProShares Ultra Bloomberg Crude Oil | -0.07 | -0.00 | 0.06 | 54 | Leveraged Commodities | CVS vs UCO | |
| United States Oil Fund LP | -0.06 | 0.00 | 0.06 | 66 | Oil & Gas | CVS vs USO | |
| Invesco DB Commodity Index Tracking Fund | -0.04 | 0.00 | 0.08 | 75 | Commodities | CVS vs DBC |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CVS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CVS and solid risk/return profiles. The least correlated is Cloudflare, Inc. (NET) (Technology) with a 1Y correlation of -0.10, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cloudflare, Inc. | -0.10 | -0.02 | 0.04 | 67 | Technology | |
| Credo Technology Group Holding Ltd | -0.09 | -0.06 | 0.02 | 85 | Technology | |
| CrowdStrike Holdings, Inc. | -0.09 | -0.04 | 0.01 | 70 | Technology | |
| Arm Holdings plc American Depositary Shares | -0.08 | 0.02 | 0.02 | 92 | Technology | |
| AppLovin Corporation | -0.07 | -0.03 | 0.04 | 59 | Technology |
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