Looking to diversify beyond EWL? The ETFs below have historically moved differently from EWL, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for EWL
302 ETFs have low correlation with EWL (below 0.3), 91 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.43, down from -0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.43 | -0.24 | -0.06 | 72 | Oil & Gas | EWL vs DBE | |
| ProShares UltraShort Yen | -0.42 | -0.34 | -0.28 | 56 | Leveraged Currency | EWL vs YCS | |
| United States Brent Oil Fund LP | -0.40 | -0.21 | -0.06 | 52 | Oil & Gas | EWL vs BNO | |
| United States Oil Fund LP | -0.40 | -0.21 | -0.05 | 55 | Oil & Gas | EWL vs USO | |
| United States Gasoline Fund LP | -0.39 | -0.21 | -0.05 | 87 | Oil & Gas | EWL vs UGA |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EWL, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.18, down from 0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.18 | 0.32 | 0.42 | 61 | Financial Services | |
| ASE Technology Holding Co., Ltd. | 0.25 | 0.32 | 0.37 | 98 | Technology |
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