Looking to balance out your exposure to AWK? The ETFs below have historically moved differently from AWK, 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 AWK
12 ETFs have low correlation with AWK (below 0.3), 10 of which are negatively correlated. The least correlated is iShares Expanded Tech Sector ETF (IGM) (Technology Equities) with a 1Y correlation of -0.41, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Expanded Tech Sector ETF | -0.41 | -0.20 | 0.05 | 54 | Technology Equities | AWK vs IGM | |
| State Street Technology Select Sector SPDR ETF | -0.40 | -0.19 | 0.06 | 55 | Technology Equities | AWK vs XLK | |
| Fidelity MSCI Information Technology Index ETF | -0.40 | -0.19 | 0.06 | 52 | Technology Equities | AWK vs FTEC | |
| Vanguard Information Technology ETF | -0.39 | -0.19 | 0.06 | 52 | Technology Equities | AWK vs VGT | |
| VanEck Semiconductor ETF | -0.36 | -0.21 | -0.00 | 87 | Semiconductors, Technology Equities | AWK vs SMH |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AWK, 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 Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.40, down from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.40 | -0.26 | -0.03 | 67 | Technology | |
| NVIDIA Corporation | -0.35 | -0.24 | -0.04 | 56 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.34 | -0.21 | -0.06 | 87 | Technology | |
| Teradyne, Inc. | -0.33 | -0.12 | 0.03 | 96 | Technology | |
| Lam Research Corporation | -0.27 | -0.16 | 0.00 | 96 | Technology |
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