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
379 ETFs have low correlation with FRNW (below 0.3), 36 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.18, roughly unchanged from -0.19 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.18 | -0.19 | — | 63 | Leveraged Currency | FRNW vs YCS | |
| First Trust Merger Arbitrage ETF | -0.16 | 0.07 | — | 59 | Long-Short | FRNW vs MARB | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.15 | — | — | 98 | Inflation-Protected Bonds | FRNW vs IBIC | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.14 | — | — | 97 | Inflation-Protected Bonds | FRNW vs RBIL | |
| iShares iBonds Oct 2027 Term TIPS ETF | -0.14 | 0.10 | 0.10 | 95 | Inflation-Protected Bonds | FRNW vs IBID |
To view more results, upgrade your current subscription plan.
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 Alkermes plc (ALKS) (Healthcare) with a 1Y correlation of 0.19, roughly unchanged from 0.22 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alkermes plc | 0.19 | 0.22 | — | 82 | Healthcare | |
| Definium Therapeutics, Inc | 0.22 | 0.32 | — | 99 | Healthcare | |
| COMPASS Pathways plc | 0.26 | 0.31 | — | 97 | Healthcare | |
| Rocket Lab USA, Inc. | 0.45 | 0.44 | 0.48 | 87 | Industrials | |
| Micron Technology, Inc. | 0.46 | 0.41 | — | 99 | Technology |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements FRNW
Add FRNW to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with FRNW