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
1245 ETFs have low correlation with BWZ (below 0.3), 74 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 -0.69 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.74 | -0.70 | -0.69 | 63 | Leveraged Currency | BWZ vs YCS | |
| United States Brent Oil Fund LP | -0.32 | -0.11 | 0.00 | 65 | Oil & Gas | BWZ vs BNO | |
| United States Oil Fund LP | -0.32 | -0.12 | 0.00 | 66 | Oil & Gas | BWZ vs USO | |
| Defiance Oil Enhanced Options Income ETF | -0.31 | -0.19 | -0.19 | 56 | Derivative Income | BWZ vs USOY | |
| Invesco DB Energy Fund | -0.30 | -0.11 | 0.01 | 71 | Oil & Gas | BWZ vs DBE |
See all 2191 diversifiers for BWZ
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Diversification Analysis
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