Looking to balance out your exposure to KRKNF? The ETFs below have the lowest correlation with KRKNF — they tend to move on their own, which can help reduce risk when KRKNF drops. The stock ideas table highlights individual companies that behave independently from KRKNF.
Best Diversifiers for KRKNF
34 ETFs have low correlation with KRKNF (below 0.3), 1 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.05, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.05 | 0.04 | 0.13 | 59 | Energy Equities | KRKNF vs XLE | |
| iShares Treasury Floating Rate Bond ETF | 0.00 | -0.05 | -0.05 | 100 | Government Bonds, Ultrashort Bond | KRKNF vs TFLO | |
| iShares GSCI Commodity Dynamic Roll Strategy ETF | 0.00 | 0.08 | 0.10 | 52 | Commodities | KRKNF vs COMT | |
| Franklin Short Duration U.S. Government ETF | 0.00 | 0.03 | 0.02 | 96 | Mortgage Backed Securities | KRKNF vs FTSD | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.01 | 0.00 | 0.01 | 100 | Government Bonds, Ultrashort Bond | KRKNF vs BIL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from KRKNF, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to KRKNF and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.13, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.13 | -0.06 | -0.02 | 84 | Consumer Defensive | |
| Johnson & Johnson | -0.11 | -0.08 | -0.02 | 96 | Healthcare | |
| CareTrust REIT, Inc. | -0.09 | -0.01 | 0.04 | 87 | Real Estate | |
| Merck & Co., Inc. | -0.08 | -0.03 | 0.00 | 92 | Healthcare | |
| Exxon Mobil Corporation | -0.07 | 0.02 | 0.11 | 78 | Energy |
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