Looking to balance out your exposure to THC? The ETFs below have historically moved differently from THC, 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 THC
2 ETFs have low correlation with THC (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 0.18, down from 0.45 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.18 | 0.33 | 0.45 | 78 | S&P 500 | THC vs SPY | |
| SPDR S&P Biotech ETF | 0.21 | 0.30 | 0.36 | 93 | Health & Biotech Equities | THC vs XBI |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for THC, 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 Chord Energy Corp (CHRD) (Energy) with a 1Y correlation of -0.20, down from 0.14 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chord Energy Corp | -0.20 | 0.04 | 0.14 | 71 | Energy | |
| Pampa Energía S.A. | -0.16 | 0.05 | 0.15 | 57 | Utilities | |
| CrowdStrike Holdings, Inc. | -0.09 | 0.12 | 0.24 | 83 | Technology | |
| Cisco Systems, Inc. | -0.05 | 0.19 | 0.30 | 93 | Technology | |
| Enerflex Ltd. | -0.03 | 0.10 | 0.14 | 98 | Energy |
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