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
304 ETFs have low correlation with EWL (below 0.3), 60 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.46, down from -0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.46 | -0.34 | -0.27 | 75 | Leveraged Currency | EWL vs YCS | |
| United States Gasoline Fund LP | -0.38 | -0.20 | -0.05 | 72 | Oil & Gas | EWL vs UGA | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.26 | -0.08 | 0.05 | 51 | Commodities | EWL vs PDBC | |
| Defiance Daily Target 2X Short MSTR ETF | -0.22 | — | — | 53 | Inverse Equities | EWL vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.22 | — | — | 60 | Inverse Equities, Leveraged Equities | EWL vs MSTZ |
To view more results, upgrade your current subscription plan.
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 MP Materials Corp. (MP) (Basic Materials) with a 1Y correlation of 0.09, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| MP Materials Corp. | 0.09 | 0.22 | 0.30 | 53 | Basic Materials | |
| Tesla, Inc. | 0.19 | 0.19 | 0.28 | 66 | Consumer Cyclical | |
| ASE Technology Holding Co., Ltd. | 0.23 | 0.32 | 0.36 | 99 | Technology |
Build a portfolio that complements EWL
Add EWL to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with EWL