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
257 ETFs have low correlation with CVX (below 0.3), 196 of which are negatively correlated. The least correlated is Vanguard Emerging Markets Government Bond ETF (VWOB) (Emerging Markets Bonds) with a 1Y correlation of -0.27, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Emerging Markets Government Bond ETF | -0.27 | 0.00 | 0.08 | 58 | Emerging Markets Bonds | CVX vs VWOB | |
| Vanguard Short-Term Bond Index Fund ETF Shares | -0.26 | -0.11 | -0.10 | 54 | Short-Term Bond | CVX vs BSV | |
| iShares 1-3 Year Treasury Bond ETF | -0.24 | -0.11 | -0.09 | 72 | Government Bonds, Short-Term Bond | CVX vs SHY | |
| Franklin Short Duration U.S. Government ETF | -0.23 | -0.14 | -0.09 | 95 | Mortgage Backed Securities | CVX vs FTSD | |
| SPDR Portfolio Short Term Corporate Bond ETF | -0.23 | -0.06 | -0.03 | 92 | Corporate Bonds | CVX vs SPSB |
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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 Delta Air Lines, Inc. (DAL) (Industrials) with a 1Y correlation of -0.21, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Delta Air Lines, Inc. | -0.21 | 0.02 | 0.14 | 87 | Industrials | |
| Lam Research Corporation | -0.21 | -0.03 | 0.10 | 98 | Technology | |
| Allegiant Travel Company | -0.20 | 0.06 | 0.14 | 81 | Industrials | |
| Alphabet Inc. Class A | -0.20 | -0.04 | 0.08 | 96 | Communication Services | |
| Carnival Corporation & Plc | -0.20 | -0.04 | 0.12 | 57 | Consumer Cyclical |
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