Looking to diversify beyond EWN? The ETFs below have the lowest correlation with EWN — 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 EWN.
Best Diversifiers for EWN
410 ETFs have low correlation with EWN (below 0.3), 81 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.40, roughly unchanged from -0.49 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.40 | -0.42 | -0.49 | 51 | Currency | EWN vs UUP | |
| ProShares Short Bitcoin ETF | -0.34 | -0.31 | -0.34 | 57 | Cryptocurrency | EWN vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.33 | -0.35 | -0.35 | 52 | Cryptocurrency, Leveraged Cryptocurrency | EWN vs SBIT | |
| Defiance Daily Target 2X Short MSTR ETF | -0.32 | -0.35 | -0.35 | 60 | Inverse Equities | EWN vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.32 | -0.35 | -0.35 | 68 | Inverse Equities, Leveraged Equities | EWN vs MSTZ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EWN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EWN and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.23, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.23 | -0.01 | 0.14 | 53 | Industrials | |
| Exxon Mobil Corporation | -0.19 | -0.01 | 0.13 | 75 | Energy | |
| The Coca-Cola Company | -0.17 | 0.01 | 0.15 | 83 | Consumer Defensive | |
| Diamondback Energy, Inc. | -0.17 | 0.04 | 0.18 | 77 | Energy | |
| Energy Transfer LP | -0.14 | 0.14 | 0.27 | 84 | Energy |
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