Looking to diversify beyond BWX? The ETFs below have historically moved differently from BWX, 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 BWX
499 ETFs have low correlation with BWX (below 0.3), 100 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.74, roughly unchanged from -0.71 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.74 | -0.74 | -0.71 | 56 | Leveraged Currency | BWX vs YCS | |
| United States Brent Oil Fund LP | -0.45 | -0.23 | -0.10 | 52 | Oil & Gas | BWX vs BNO | |
| United States Oil Fund LP | -0.45 | -0.23 | -0.09 | 55 | Oil & Gas | BWX vs USO | |
| Invesco DB Energy Fund | -0.44 | -0.23 | -0.09 | 72 | Oil & Gas | BWX vs DBE | |
| United States Gasoline Fund LP | -0.41 | -0.22 | -0.08 | 87 | Oil & Gas | BWX vs UGA |
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