Looking to balance out your exposure to FWONA? The ETFs below have the lowest correlation with FWONA — they tend to move on their own, which can help reduce risk when FWONA drops. The stock ideas table highlights individual companies that behave independently from FWONA.
Best Diversifiers for FWONA
3 ETFs have low correlation with FWONA (below 0.3), 0 of which are negatively correlated. The least correlated is iShares U.S. Technology ETF (IYW) (Technology Equities) with a 1Y correlation of 0.14, down from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares U.S. Technology ETF | 0.14 | 0.29 | 0.39 | 75 | Technology Equities | FWONA vs IYW | |
| Vanguard S&P 500 ETF | 0.26 | 0.37 | 0.45 | 70 | S&P 500 | FWONA vs VOO | |
| State Street SPDR S&P 500 ETF | 0.27 | 0.38 | 0.45 | 70 | S&P 500 | FWONA vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FWONA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FWONA and solid risk/return profiles. The least correlated is Credo Technology Group Holding Ltd (CRDO) (Technology) with a 1Y correlation of 0.03, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Credo Technology Group Holding Ltd | 0.03 | 0.18 | 0.22 | 85 | Technology | |
| Applied Optoelectronics, Inc. | 0.04 | 0.15 | 0.18 | 98 | Technology | |
| Vertiv Holdings Co. | 0.04 | 0.18 | 0.27 | 94 | Industrials | |
| AppLovin Corporation | 0.05 | 0.20 | 0.29 | 59 | Technology | |
| Quest Diagnostics Incorporated | 0.06 | 0.06 | 0.13 | 59 | Healthcare |
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