PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

Games Workshop Group plc (GAW.L) Diversifiers

Equity · Currency in GBp · Last updated Jun 5, 2026

Games Workshop Group plc, together with its subsidiaries, designs, manufactures, distributes, and sells miniature figures and games in the United Kingdom, Continental Europe, North America, Australia, New Zealand, Asia, and internationally. It operates in two segments, Core and Licensing. The company offers games under the Warhammer: Age of Sigmar and Warhammer 40,000 names, as well as Horus Heresy, an off shoot of Warhammer 40,000. It also publishes short stories, audio dramas, full length novels, and audio books under the Black Library name; and develops digital content for animation and TV. In addition, the company provides painting and modelling products, boxed games, and gifts; and engages in the newsstand and trustee businesses. It offers its products through its retail stores, social media sites, and warhammer-community.com; and physical bookstores, third party online platforms, and other retail and specialist stores. The company operated 518 stores in 23 countries; 400 single staff stores; and 118 multi-staff stores. Games Workshop Group plc was incorporated in 1991 and is headquartered in Nottingham, the United Kingdom.

Looking to balance out your exposure to GAW.L? The ETFs below have the lowest correlation with GAW.L — they tend to move on their own, which can help reduce risk when GAW.L drops. The stock ideas table highlights individual companies that behave independently from GAW.L.

Best Diversifiers for GAW.L

4 ETFs have low correlation with GAW.L (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Physical Silver ETC (SSLN.L) (Silver) with a 1Y correlation of 0.05, roughly unchanged from 0.04 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
SSLN.L
iShares Physical Silver ETC0.050.060.04
56
Silver, Precious MetalsGAW.L vs SSLN.L
LCJP.L
Amundi MSCI Japan UCITS ETF Acc0.190.210.28
59
Japan EquitiesGAW.L vs LCJP.L
EQQQ.L
Invesco EQQQ NASDAQ-100 UCITS ETF0.210.230.33
78
Nasdaq-100GAW.L vs EQQQ.L
VUAG.L
Vanguard S&P 500 UCITS ETF (USD) Accumulating0.270.250.33
82
S&P 500GAW.L vs VUAG.L
VUKE.L
Vanguard FTSE 100 UCITS ETF Distributing0.330.370.41
56
Europe EquitiesGAW.L vs VUKE.L

Rows per page

1–5 of 5

Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from GAW.L, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GAW.L and solid risk/return profiles. The least correlated is BP plc (BP.L) (Energy) with a 1Y correlation of -0.13, down from 0.03 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
BP.L
BP plc-0.130.010.03
87
Energy
GLEN.L
Glencore plc-0.000.120.14
96
Basic Materials
TSCO.L
Tesco PLC0.050.120.18
66
Consumer Defensive
BNZL.L
Bunzl plc0.070.190.30
51
Consumer Defensive
NG.L
National Grid plc0.100.100.10
68
Utilities
See all 11 low-correlation stocks for GAW.L

To view more results, upgrade your current subscription plan.

Diversification Analysis

Build a portfolio that complements GAW.L

Add GAW.L to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with GAW.L