Looking to diversify beyond AWAY? The ETFs below have historically moved differently from AWAY, 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 AWAY
508 ETFs have low correlation with AWAY (below 0.3), 103 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.36, down from 0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.36 | -0.09 | 0.06 | 55 | Oil & Gas | AWAY vs USO | |
| Invesco DB Energy Fund | -0.35 | -0.10 | 0.07 | 72 | Oil & Gas | AWAY vs DBE | |
| United States Brent Oil Fund LP | -0.34 | -0.08 | 0.06 | 52 | Oil & Gas | AWAY vs BNO | |
| Defiance Daily Target 2X Short MSTR ETF | -0.32 | -0.35 | -0.35 | 52 | Inverse Equities | AWAY vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.32 | — | — | 61 | Inverse Equities, Leveraged Equities | AWAY vs MSTZ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AWAY, 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 Equinix, Inc. (EQIX) (Real Estate) with a 1Y correlation of 0.14, down from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinix, Inc. | 0.14 | 0.29 | 0.34 | 82 | Real Estate | |
| Expedia Group, Inc. | 0.59 | 0.61 | 0.68 | 79 | Consumer Cyclical |
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