Looking to balance out your exposure to CXW? The ETFs below have the lowest correlation with CXW — they tend to move on their own, which can help reduce risk when CXW drops. The stock ideas table highlights individual companies that behave independently from CXW.
Best Diversifiers for CXW
3 ETFs have low correlation with CXW (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.21, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.21 | 0.28 | 0.32 | 65 | S&P 500 | CXW vs SPY | |
| Vanguard S&P 500 ETF | 0.22 | 0.29 | 0.32 | 66 | S&P 500 | CXW vs VOO | |
| iShares S&P 500 Value ETF | 0.27 | 0.31 | 0.37 | 80 | Large Cap Value Equities, S&P 500 | CXW vs IVE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CXW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CXW and solid risk/return profiles. The least correlated is Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of 0.01, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | 0.01 | 0.06 | 0.13 | 61 | Communication Services | |
| Cheniere Energy, Inc. | 0.01 | 0.14 | 0.18 | 57 | Energy | |
| Alphabet Inc. Class A | 0.04 | 0.14 | 0.18 | 96 | Communication Services | |
| Vertiv Holdings Co. | 0.06 | 0.17 | 0.22 | 92 | Industrials | |
| Enterprise Products Partners L.P. | 0.08 | 0.16 | 0.25 | 87 | Energy |
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