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
619 ETFs have low correlation with BWZ (below 0.3), 38 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.72, roughly unchanged from -0.69 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.72 | -0.69 | -0.69 | 63 | Leveraged Currency | BWZ vs YCS | |
| United States Gasoline Fund LP | -0.31 | -0.11 | -0.00 | 55 | Oil & Gas | BWZ vs UGA | |
| TCW AAA CLO ETF | -0.25 | -0.28 | -0.28 | 99 | CLO | BWZ vs ACLO | |
| iShares Enhanced Short-Term Bond Active ETF | -0.24 | -0.09 | -0.09 | 99 | Ultrashort Bond | BWZ vs CSHP | |
| Fidelity Managed Futures ETF | -0.16 | -0.18 | -0.18 | 64 | Systematic Trend | BWZ vs FFUT |
See all 1949 diversifiers for BWZ
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Diversification Analysis
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