Looking to diversify beyond BWZ? The ETFs below have the lowest correlation with BWZ — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from BWZ.
Best Diversifiers for BWZ
646 ETFs have low correlation with BWZ (below 0.3), 66 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.83, roughly unchanged from -0.84 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.83 | -0.80 | -0.84 | 51 | Currency | BWZ vs UUP | |
| ProShares UltraShort Yen | -0.71 | -0.69 | -0.69 | 72 | Leveraged Currency | BWZ vs YCS | |
| Invesco DB Energy Fund | -0.30 | -0.12 | -0.00 | 53 | Oil & Gas | BWZ vs DBE | |
| United States Gasoline Fund LP | -0.30 | -0.12 | -0.00 | 78 | Oil & Gas | BWZ vs UGA | |
| TCW AAA CLO ETF | -0.22 | — | — | 99 | CLO | BWZ vs ACLO |
See all 2048 diversifiers for BWZ
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Diversification Analysis
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