Looking to balance out your exposure to CVX? The ETFs below have the lowest correlation with CVX — they tend to move on their own, which can help reduce risk when CVX drops. The stock ideas table highlights individual companies that behave independently from CVX.
Best Diversifiers for CVX
284 ETFs have low correlation with CVX (below 0.3), 210 of which are negatively correlated. The least correlated is Vanguard Short-Term Bond Index Fund ETF Shares (BSV) (Short-Term Bond) with a 1Y correlation of -0.24, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Short-Term Bond Index Fund ETF Shares | -0.24 | -0.10 | -0.09 | 61 | Short-Term Bond | CVX vs BSV | |
| Fidelity Blue Chip Growth ETF | -0.24 | -0.03 | 0.13 | 57 | Large Cap Growth Equities | CVX vs FBCG | |
| iShares 1-3 Year Treasury Bond ETF | -0.23 | -0.10 | -0.08 | 79 | Government Bonds, Short-Term Bond | CVX vs SHY | |
| Invesco NASDAQ 100 ETF | -0.21 | -0.02 | 0.12 | 74 | Nasdaq-100 | CVX vs QQQM | |
| Invesco QQQ ETF | -0.21 | -0.03 | 0.12 | 73 | Nasdaq-100 | CVX vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CVX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CVX and solid risk/return profiles. The least correlated is Lam Research Corporation (LRCX) (Technology) with a 1Y correlation of -0.21, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lam Research Corporation | -0.21 | -0.03 | 0.11 | 98 | Technology | |
| The Bank of Nova Scotia | -0.20 | 0.09 | 0.27 | 94 | Financial Services | |
| Sun Life Financial Inc. | -0.19 | 0.11 | 0.28 | 61 | Financial Services | |
| Delta Air Lines, Inc. | -0.19 | 0.03 | 0.15 | 80 | Industrials | |
| Sandoz Group AG | -0.19 | -0.05 | -0.05 | 84 | Healthcare |
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