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
269 ETFs have low correlation with CVS (below 0.3), 66 of which are negatively correlated. The least correlated is Direxion Daily MU Bull 2X Shares (MUU) (Leveraged Equities) with a 1Y correlation of -0.27, roughly unchanged from -0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | -0.27 | -0.27 | -0.27 | 99 | Leveraged Equities, Semiconductors | CVS vs MUU | |
| iShares U.S. Technology ETF | -0.10 | -0.01 | 0.11 | 60 | Technology Equities | CVS vs IYW | |
| Fidelity Nasdaq Composite Index ETF | -0.08 | 0.02 | 0.15 | 55 | Large Cap Growth Equities | CVS vs ONEQ | |
| Roundhill Generative AI & Technology ETF | -0.08 | -0.02 | — | 85 | Technology Equities | CVS vs CHAT | |
| Vanguard Information Technology ETF | -0.07 | 0.00 | 0.13 | 57 | Technology Equities | CVS vs VGT |
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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 Shopify Inc. (SHOP) (Technology) with a 1Y correlation of -0.16, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Shopify Inc. | -0.16 | -0.02 | 0.04 | 52 | Technology | |
| Okta, Inc. | -0.16 | -0.01 | 0.03 | 74 | Technology | |
| CrowdStrike Holdings, Inc. | -0.15 | -0.06 | 0.01 | 77 | Technology | |
| Broadcom Inc. | -0.14 | -0.05 | 0.07 | 71 | Technology | |
| Arm Holdings plc American Depositary Shares | -0.13 | 0.00 | 0.00 | 83 | Technology |
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