Looking to diversify beyond GOOW? The ETFs below have the lowest correlation with GOOW — 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 GOOW.
Best Diversifiers for GOOW
477 ETFs have low correlation with GOOW (below 0.3), 39 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.14, roughly unchanged from -0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.14 | -0.14 | -0.14 | 61 | Leveraged Currency | GOOW vs YCS | |
| VanEck Energy Income ETF | -0.12 | -0.12 | -0.12 | 57 | Energy Equities | GOOW vs EINC | |
| Alerian Energy Infrastructure ETF | -0.12 | -0.12 | -0.12 | 50 | Energy Equities | GOOW vs ENFR | |
| Tortoise North American Pipeline Fund | -0.12 | -0.12 | -0.12 | 55 | Energy Equities | GOOW vs TPYP | |
| Texas Capital Government Money Market ETF | -0.12 | -0.12 | -0.12 | 100 | Money Market | GOOW vs MMKT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GOOW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GOOW and solid risk/return profiles. The least correlated is BlackRock Science and Technology Trust (BST) (Financial Services) with a 1Y correlation of 0.44, roughly unchanged from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Science and Technology Trust | 0.44 | 0.44 | 0.44 | 89 | Financial Services |
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