Looking to diversify beyond BWZ? The ETFs below have historically moved differently from BWZ, 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 BWZ
775 ETFs have low correlation with BWZ (below 0.3), 94 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.69, roughly unchanged from -0.69 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.69 | -0.70 | -0.69 | 56 | Leveraged Currency | BWZ vs YCS | |
| United States Oil Fund LP | -0.33 | -0.15 | -0.01 | 55 | Oil & Gas | BWZ vs USO | |
| United States Brent Oil Fund LP | -0.33 | -0.14 | -0.01 | 52 | Oil & Gas | BWZ vs BNO | |
| Invesco DB Energy Fund | -0.31 | -0.13 | -0.01 | 72 | Oil & Gas | BWZ vs DBE | |
| Invesco DB Oil Fund | -0.30 | -0.13 | 0.00 | 58 | Oil & Gas | BWZ vs DBO |
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