Looking to diversify beyond FRNW? The ETFs below have the lowest correlation with FRNW — 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 FRNW.
Best Diversifiers for FRNW
485 ETFs have low correlation with FRNW (below 0.3), 63 of which are negatively correlated. The least correlated is Proshares Ultrashort Bitcoin ETF (SBIT) (Cryptocurrency) with a 1Y correlation of -0.39, roughly unchanged from -0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Proshares Ultrashort Bitcoin ETF | -0.39 | -0.33 | -0.33 | 52 | Cryptocurrency, Leveraged Cryptocurrency | FRNW vs SBIT | |
| ProShares Short Bitcoin ETF | -0.39 | -0.29 | -0.32 | 57 | Cryptocurrency | FRNW vs BITI | |
| Defiance Daily Target 2X Short MSTR ETF | -0.38 | — | — | 60 | Inverse Equities | FRNW vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.37 | — | — | 68 | Inverse Equities, Leveraged Equities | FRNW vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.36 | — | — | 70 | Derivative Income | FRNW vs WNTR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FRNW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FRNW and solid risk/return profiles. The least correlated is Fortis Inc (FTS) (Utilities) with a 1Y correlation of -0.17, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc | -0.17 | 0.17 | 0.24 | 90 | Utilities | |
| Altria Group, Inc. | -0.15 | 0.05 | 0.07 | 81 | Consumer Defensive | |
| McKesson Corporation | -0.11 | -0.09 | — | 60 | Healthcare | |
| Verizon Communications Inc. | -0.09 | 0.07 | 0.10 | 57 | Communication Services | |
| Enbridge Inc. | -0.07 | 0.20 | — | 88 | Energy |
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