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
367 ETFs have low correlation with EWZ (below 0.3), 39 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.29, down from -0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.29 | -0.15 | -0.11 | 61 | Leveraged Currency | EWZ vs YCS | |
| iShares 0-3 Month Treasury Bond ETF | -0.18 | -0.08 | -0.06 | 100 | Ultrashort Bond | EWZ vs SGOV | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.17 | — | — | 97 | Inflation-Protected Bonds | EWZ vs RBIL | |
| TCW AAA CLO ETF | -0.17 | -0.09 | -0.09 | 99 | CLO | EWZ vs ACLO | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.16 | — | — | 98 | Inflation-Protected Bonds | EWZ vs IBIC |
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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 -0.04, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Talos Energy Inc. | -0.04 | 0.15 | 0.24 | 74 | Energy | |
| Walmart Inc. | -0.04 | 0.06 | 0.06 | 69 | Consumer Defensive | |
| Eli Lilly and Company | -0.03 | 0.03 | 0.06 | 75 | Healthcare | |
| Altria Group, Inc. | -0.00 | 0.08 | 0.14 | 70 | Consumer Defensive | |
| ConocoPhillips Company | -0.00 | 0.13 | 0.22 | 61 | Energy |
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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