Looking to balance out your exposure to CWAN? The ETFs below have historically moved differently from CWAN, 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 CWAN
3 ETFs have low correlation with CWAN (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Technology Select Sector SPDR ETF (XLK) (Technology Equities) with a 1Y correlation of 0.22, roughly unchanged from 0.28 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Technology Select Sector SPDR ETF | 0.22 | 0.28 | — | 55 | Technology Equities | CWAN vs XLK | |
| State Street SPDR S&P 500 ETF | 0.24 | 0.34 | — | 67 | S&P 500 | CWAN vs SPY | |
| Vanguard S&P 500 ETF | 0.25 | 0.34 | — | 68 | S&P 500 | CWAN vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CWAN, 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 CleanSpark, Inc. (CLSK) (Financial Services) with a 1Y correlation of 0.15, roughly unchanged from 0.22 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CleanSpark, Inc. | 0.15 | 0.22 | — | 55 | Financial Services |
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