Looking to diversify beyond EWO? The ETFs below have the lowest correlation with EWO — 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 EWO.
Best Diversifiers for EWO
444 ETFs have low correlation with EWO (below 0.3), 92 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.35, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.36 | -0.04 | 0.12 | 71 | Oil & Gas | EWO vs DBE | |
| United States Oil Fund LP | -0.35 | -0.03 | 0.13 | 66 | Oil & Gas | EWO vs USO | |
| United States Brent Oil Fund LP | -0.34 | -0.03 | 0.12 | 65 | Oil & Gas | EWO vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.32 | -0.10 | -0.10 | 56 | Derivative Income | EWO vs USOY | |
| United States Gasoline Fund LP | -0.31 | -0.04 | 0.10 | 71 | Oil & Gas | EWO vs UGA |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EWO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EWO and solid risk/return profiles. The least correlated is Coterra Energy Inc. (CTRA) (Energy) with a 1Y correlation of -0.19, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Coterra Energy Inc. | -0.19 | 0.08 | 0.21 | 77 | Energy | |
| Exxon Mobil Corporation | -0.18 | 0.08 | 0.24 | 85 | Energy | |
| Chevron Corporation | -0.16 | 0.08 | 0.24 | 83 | Energy | |
| Walmart Inc. | -0.06 | 0.07 | 0.15 | 59 | Consumer Defensive | |
| WEC Energy Group, Inc. | -0.06 | 0.09 | 0.12 | 50 | Utilities |
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