Looking to balance out your exposure to CWCO? The ETFs below have the lowest correlation with CWCO — they tend to move on their own, which can help reduce risk when CWCO drops. The stock ideas table highlights individual companies that behave independently from CWCO.
Best Diversifiers for CWCO
2 ETFs have low correlation with CWCO (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily GOOGL Bull 2X Shares (GGLL) (Leveraged Equities) with a 1Y correlation of 0.16, roughly unchanged from 0.12 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily GOOGL Bull 2X Shares | 0.16 | 0.12 | — | 93 | Leveraged Equities | CWCO vs GGLL | |
| State Street SPDR S&P 500 ETF | 0.30 | 0.31 | 0.26 | 65 | S&P 500 | CWCO vs SPY | |
| Vanguard S&P 500 ETF | 0.30 | 0.31 | 0.26 | 66 | S&P 500 | CWCO vs VOO | |
| iShares Core 60/40 Balanced Allocation ETF | 0.33 | 0.35 | 0.29 | 65 | Diversified Portfolio | CWCO vs AOR |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CWCO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CWCO and solid risk/return profiles. The least correlated is Diamondback Energy, Inc. (FANG) (Energy) with a 1Y correlation of -0.10, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Diamondback Energy, Inc. | -0.10 | 0.00 | 0.03 | 80 | Energy | |
| Singapore Telecommunications PK | -0.07 | 0.03 | 0.03 | 59 | Communication Services | |
| TTW Public Company Limited | -0.04 | -0.00 | -0.02 | 79 | Utilities | |
| argenx SE | 0.02 | 0.09 | 0.09 | 81 | Healthcare | |
| NVIDIA Corporation | 0.05 | 0.07 | 0.05 | 63 | Technology |
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