Looking to diversify beyond EWZ? The ETFs below have the lowest correlation with EWZ — 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 EWZ.
Best Diversifiers for EWZ
453 ETFs have low correlation with EWZ (below 0.3), 38 of which are negatively correlated. The least correlated is Invesco DB US Dollar Index Bullish Fund (UUP) (Currency) with a 1Y correlation of -0.43, down from -0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB US Dollar Index Bullish Fund | -0.43 | -0.34 | -0.32 | 51 | Currency | EWZ vs UUP | |
| ProShares Short Bitcoin ETF | -0.34 | -0.23 | — | 57 | Cryptocurrency | EWZ vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.34 | — | — | 52 | Cryptocurrency, Leveraged Cryptocurrency | EWZ vs SBIT | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.29 | — | — | 68 | Inverse Equities, Leveraged Equities | EWZ vs MSTZ | |
| ProShares UltraShort Yen | -0.28 | -0.15 | -0.11 | 72 | Leveraged Currency | EWZ vs YCS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EWZ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EWZ and solid risk/return profiles. The least correlated is Talos Energy Inc. (TALO) (Energy) with a 1Y correlation of -0.07, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Talos Energy Inc. | -0.07 | 0.14 | 0.24 | 78 | Energy | |
| Cheniere Energy, Inc. | -0.06 | 0.12 | 0.20 | 58 | Energy | |
| Waste Management, Inc. | -0.06 | 0.07 | 0.10 | 53 | Industrials | |
| Eli Lilly and Company | -0.04 | 0.03 | 0.06 | 80 | Healthcare | |
| Walmart Inc. | -0.04 | 0.06 | 0.06 | 71 | Consumer Defensive |
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Build a portfolio that complements EWZ
Add EWZ to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with EWZ