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
238 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 -0.07, 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 | -0.07 | -0.08 | -0.04 | 100 | Government Bonds, Ultrashort Bond | CVS vs BIL | |
| NEOS Enhanced Income 1-3 Month T-Bill ETF | -0.06 | 0.00 | — | 99 | Ultrashort Bond | CVS vs CSHI | |
| Roundhill Generative AI & Technology ETF | -0.05 | -0.02 | — | 89 | Technology Equities | CVS vs CHAT | |
| ProShares Ultra Semiconductors | -0.05 | -0.03 | 0.07 | 82 | Leveraged Equities, Semiconductors | CVS vs USD | |
| Fidelity MSCI Information Technology Index ETF | -0.04 | 0.01 | 0.14 | 60 | Technology Equities | CVS vs FTEC |
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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 CrowdStrike Holdings, Inc. (CRWD) (Technology) with a 1Y correlation of -0.12, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CrowdStrike Holdings, Inc. | -0.12 | -0.05 | 0.01 | 65 | Technology | |
| Okta, Inc. | -0.11 | 0.01 | 0.03 | 55 | Technology | |
| Cloudflare, Inc. | -0.10 | -0.03 | 0.04 | 55 | Technology | |
| Credo Technology Group Holding Ltd | -0.10 | -0.06 | 0.02 | 88 | Technology | |
| Broadcom Inc. | -0.09 | -0.03 | 0.09 | 72 | Technology |
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