Looking to diversify beyond FPWR? The ETFs below have the lowest correlation with FPWR — 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 FPWR.
Best Diversifiers for FPWR
2 ETFs have low correlation with FPWR (below 0.3), 0 of which are negatively correlated. The least correlated is First Trust NASDAQ Technology Dividend Index Fund (TDIV) (Technology Equities) with a 1Y correlation of 0.15, down from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust NASDAQ Technology Dividend Index Fund | 0.15 | 0.27 | 0.39 | 68 | Technology Equities, Dividend | FPWR vs TDIV | |
| First Trust Nasdaq Semiconductor ETF | 0.19 | 0.19 | 0.30 | 96 | Semiconductors, Technology Equities | FPWR vs FTXL | |
| First Trust NASDAQ Clean Edge Green Energy Index F... | 0.30 | 0.37 | 0.42 | 83 | Alternative Energy Equities | FPWR vs QCLN | |
| First Trust NASDAQ Clean Edge Smart Grid Infrastru... | 0.34 | 0.45 | 0.53 | 70 | Alternative Energy Equities | FPWR vs GRID | |
| First Trust RBA American Industrial Renaissance ET... | 0.38 | 0.44 | 0.52 | 79 | Building & Construction | FPWR vs AIRR |
See all 10 diversifiers for FPWR
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