Looking to diversify beyond EWP? The ETFs below have historically moved differently from EWP, 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 EWP
368 ETFs have low correlation with EWP (below 0.3), 99 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.36, down from -0.26 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.36 | -0.26 | — | 61 | Cryptocurrency | EWP vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.36 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | EWP vs SBIT | |
| Invesco DB Energy Fund | -0.35 | -0.15 | 0.03 | 72 | Oil & Gas | EWP vs DBE | |
| United States Oil Fund LP | -0.35 | -0.14 | 0.02 | 55 | Oil & Gas | EWP vs USO | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.35 | — | — | 61 | Inverse Equities, Leveraged Equities | EWP vs MSTZ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EWP, 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 Valero Energy Corporation (VLO) (Energy) with a 1Y correlation of -0.17, down from 0.15 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Valero Energy Corporation | -0.17 | 0.01 | 0.15 | 98 | Energy | |
| Omega Healthcare Investors, Inc. | -0.01 | 0.16 | 0.24 | 90 | Real Estate | |
| Scorpio Tankers Inc. | 0.01 | 0.04 | 0.11 | 90 | Energy | |
| Welltower Inc. | 0.03 | 0.21 | 0.30 | 89 | Real Estate | |
| Coca-Cola Consolidated, Inc. | 0.10 | 0.16 | 0.22 | 87 | Consumer Defensive |
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