Looking to diversify beyond EWL? The ETFs below have the lowest correlation with EWL — 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 EWL.
Best Diversifiers for EWL
246 ETFs have low correlation with EWL (below 0.3), 34 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.48, down from -0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.48 | -0.34 | -0.27 | 61 | Leveraged Currency | EWL vs YCS | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.23 | — | — | 97 | Inflation-Protected Bonds | EWL vs RBIL | |
| VanEck Commodity Strategy ETF | -0.18 | -0.03 | — | 55 | Commodities | EWL vs PIT | |
| TCW AAA CLO ETF | -0.17 | — | — | 99 | CLO | EWL vs ACLO | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.17 | — | — | 98 | Inflation-Protected Bonds | EWL vs IBIC |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EWL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EWL and solid risk/return profiles. The least correlated is Tesla, Inc. (TSLA) (Consumer Cyclical) with a 1Y correlation of 0.22, roughly unchanged from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tesla, Inc. | 0.22 | 0.20 | 0.28 | 59 | Consumer Cyclical | |
| ASE Technology Holding Co., Ltd. | 0.24 | 0.32 | 0.37 | 99 | Technology |
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