Looking to balance out your exposure to CWEN? The ETFs below have historically moved differently from CWEN, 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 CWEN
10 ETFs have low correlation with CWEN (below 0.3), 3 of which are negatively correlated. The least correlated is FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) (Nontraditional Bonds) with a 1Y correlation of -0.14, roughly unchanged from -0.16 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| FolioBeyond Alternative Income and Interest Rate H... | -0.14 | -0.16 | — | 51 | Nontraditional Bonds | CWEN vs RISR | |
| iShares 0-3 Month Treasury Bond ETF | -0.06 | 0.00 | -0.04 | 100 | Ultrashort Bond | CWEN vs SGOV | |
| KFA Mount Lucas Index Strategy ETF | -0.04 | -0.11 | -0.16 | 51 | Systematic Trend | CWEN vs KMLM | |
| VanEck IG Floating Rate ETF | 0.04 | 0.09 | 0.10 | 99 | Corporate Bonds, Ultrashort Bond | CWEN vs FLTR | |
| Janus Henderson AAA CLO ETF | 0.08 | 0.07 | 0.04 | 99 | CLO | CWEN vs JAAA |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CWEN, 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 Visa Inc. (V) (Financial Services) with a 1Y correlation of -0.15, down from 0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Visa Inc. | -0.15 | 0.05 | 0.18 | 55 | Financial Services | |
| Altria Group, Inc. | -0.09 | 0.15 | 0.16 | 66 | Consumer Defensive | |
| Coca-Cola Consolidated, Inc. | -0.09 | 0.10 | 0.19 | 84 | Consumer Defensive | |
| CF Industries Holdings, Inc. | -0.05 | 0.08 | 0.10 | 68 | Basic Materials | |
| Walmart Inc. | -0.01 | 0.06 | 0.15 | 60 | Consumer Defensive |
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