Looking to balance out your exposure to CVX? The ETFs below have historically moved differently from CVX, 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 CVX
298 ETFs have low correlation with CVX (below 0.3), 247 of which are negatively correlated. The least correlated is PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) (Multisector Bonds) with a 1Y correlation of -0.33, down from -0.09 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Multisector Bond Active Exchange-Traded Fund | -0.33 | -0.09 | — | 60 | Multisector Bonds | CVX vs PYLD | |
| iShares Flexible Income Active ETF | -0.30 | -0.04 | — | 63 | Multisector Bonds | CVX vs BINC | |
| Vanguard Short-Term Bond Index Fund ETF Shares | -0.28 | -0.14 | -0.10 | 54 | Short-Term Bond | CVX vs BSV | |
| Vanguard Tax-Exempt Bond ETF | -0.28 | -0.08 | -0.07 | 66 | Municipal Bonds | CVX vs VTEB | |
| Vanguard Short-Term Corporate Bond ETF | -0.28 | -0.11 | -0.04 | 68 | Corporate Bonds | CVX vs VCSH |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CVX, 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 Delta Air Lines, Inc. (DAL) (Industrials) with a 1Y correlation of -0.32, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Delta Air Lines, Inc. | -0.32 | -0.03 | 0.10 | 89 | Industrials | |
| Allegiant Travel Company | -0.30 | 0.01 | 0.10 | 86 | Industrials | |
| Lam Research Corporation | -0.27 | -0.05 | 0.08 | 96 | Technology | |
| The Bank of Nova Scotia | -0.26 | 0.02 | 0.23 | 97 | Financial Services | |
| Nutex Health Inc | -0.24 | -0.06 | -0.03 | 71 | Healthcare |
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