Looking to diversify beyond EWP? The ETFs below have the lowest correlation with EWP — 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 EWP.
Best Diversifiers for EWP
372 ETFs have low correlation with EWP (below 0.3), 83 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.36, down from -0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.36 | -0.27 | -0.19 | 63 | Leveraged Currency | EWP vs YCS | |
| United States Oil Fund LP | -0.35 | -0.12 | 0.05 | 66 | Oil & Gas | EWP vs USO | |
| United States Brent Oil Fund LP | -0.34 | -0.11 | 0.04 | 65 | Oil & Gas | EWP vs BNO | |
| Invesco DB Energy Fund | -0.33 | -0.11 | 0.05 | 71 | Oil & Gas | EWP vs DBE | |
| Invesco DB Oil Fund | -0.31 | -0.10 | 0.06 | 65 | Oil & Gas | EWP vs DBO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EWP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EWP and solid risk/return profiles. The least correlated is Valero Energy Corporation (VLO) (Energy) with a 1Y correlation of -0.16, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Valero Energy Corporation | -0.16 | 0.04 | 0.18 | 93 | Energy | |
| Scorpio Tankers Inc. | -0.06 | 0.06 | 0.12 | 89 | Energy | |
| Elbit Systems Ltd | 0.09 | 0.16 | 0.22 | 90 | Industrials | |
| Welltower Inc. | 0.09 | 0.24 | 0.32 | 75 | Real Estate | |
| Nabors Industries Ltd. | 0.12 | 0.19 | 0.29 | 96 | Energy |
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