Looking to balance out your exposure to CWEN? The ETFs below have the lowest correlation with CWEN — they tend to move on their own, which can help reduce risk when CWEN drops. The stock ideas table highlights individual companies that behave independently from CWEN.
Best Diversifiers for CWEN
8 ETFs have low correlation with CWEN (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.07, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.07 | -0.01 | -0.04 | 100 | Ultrashort Bond | CWEN vs SGOV | |
| Pacific Global Senior Loan ETF | 0.05 | 0.14 | 0.14 | 85 | High Yield Bonds | CWEN vs FLRT | |
| VanEck Vectors Investment Grade Floating Rate ETF | 0.08 | 0.08 | 0.09 | 99 | Corporate Bonds | CWEN vs FLTR | |
| Janus Henderson AAA CLO ETF | 0.09 | 0.07 | 0.04 | 98 | CLO | CWEN vs JAAA | |
| PIMCO ETF Trust - PIMCO Multisector Bond Active Ex... | 0.15 | — | — | 66 | Multisector Bonds | CWEN vs PYLD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CWEN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CWEN and solid risk/return profiles. The least correlated is Coca-Cola Consolidated, Inc. (COKE) (Consumer Defensive) with a 1Y correlation of -0.02, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Coca-Cola Consolidated, Inc. | -0.02 | 0.12 | 0.21 | 80 | Consumer Defensive | |
| CF Industries Holdings, Inc. | -0.01 | 0.12 | 0.12 | 60 | Basic Materials | |
| Walmart Inc. | 0.02 | 0.09 | 0.16 | 63 | Consumer Defensive | |
| Altria Group, Inc. | 0.03 | 0.21 | 0.19 | 69 | Consumer Defensive | |
| Palo Alto Networks, Inc. | 0.04 | 0.06 | 0.16 | 67 | Technology |
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Build a portfolio that complements CWEN
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