Looking to diversify beyond EWZ? The ETFs below have historically moved differently from EWZ, 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 EWZ
523 ETFs have low correlation with EWZ (below 0.3), 52 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.37, down from -0.24 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.37 | -0.24 | — | 61 | Cryptocurrency | EWZ vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.37 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | EWZ vs SBIT | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.32 | — | — | 61 | Inverse Equities, Leveraged Equities | EWZ vs MSTZ | |
| Defiance Daily Target 2X Short MSTR ETF | -0.32 | — | — | 52 | Inverse Equities | EWZ vs SMST | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.30 | — | — | 75 | Derivative Income | EWZ vs WNTR |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EWZ, 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 Talos Energy Inc. (TALO) (Energy) with a 1Y correlation of -0.07, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Talos Energy Inc. | -0.07 | 0.13 | 0.23 | 85 | Energy | |
| Chubb Limited | -0.07 | 0.07 | 0.18 | 89 | Financial Services | |
| Eli Lilly and Company | -0.06 | 0.02 | 0.05 | 83 | Healthcare | |
| Walmart Inc. | -0.05 | 0.04 | 0.05 | 62 | Consumer Defensive | |
| Cheniere Energy, Inc. | -0.04 | 0.11 | 0.19 | 57 | Energy |
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