Looking to balance out your exposure to AWK? The ETFs below have the lowest correlation with AWK — they tend to move on their own, which can help reduce risk when AWK drops. The stock ideas table highlights individual companies that behave independently from AWK.
Best Diversifiers for AWK
11 ETFs have low correlation with AWK (below 0.3), 9 of which are negatively correlated. The least correlated is State Street Technology Select Sector SPDR ETF (XLK) (Technology Equities) with a 1Y correlation of -0.40, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Technology Select Sector SPDR ETF | -0.40 | -0.19 | 0.06 | 63 | Technology Equities | AWK vs XLK | |
| Fidelity MSCI Information Technology Index ETF | -0.39 | -0.19 | 0.06 | 58 | Technology Equities | AWK vs FTEC | |
| iShares Expanded Tech Sector ETF | -0.38 | -0.19 | 0.06 | 62 | Technology Equities | AWK vs IGM | |
| Vanguard Information Technology ETF | -0.38 | -0.18 | 0.07 | 57 | Technology Equities | AWK vs VGT | |
| Invesco QQQ ETF | -0.35 | -0.14 | 0.10 | 58 | Nasdaq-100 | AWK vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AWK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AWK and solid risk/return profiles. The least correlated is Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.41, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.41 | -0.26 | -0.03 | 71 | Technology | |
| NVIDIA Corporation | -0.37 | -0.24 | -0.04 | 65 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.33 | -0.20 | -0.06 | 92 | Technology | |
| Teradyne, Inc. | -0.31 | -0.12 | 0.03 | 96 | Technology | |
| Lam Research Corporation | -0.26 | -0.16 | 0.00 | 97 | Technology |
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Build a portfolio that complements AWK
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