Looking to diversify beyond GOOW? The ETFs below have historically moved differently from GOOW, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for GOOW
734 ETFs have low correlation with GOOW (below 0.3), 106 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.29 | — | — | 52 | Inverse Equities | GOOW vs SMST | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.29 | — | — | 75 | Derivative Income | GOOW vs WNTR | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.29 | — | — | 61 | Inverse Equities, Leveraged Equities | GOOW vs MSTZ | |
| ProShares Short Bitcoin ETF | -0.23 | — | — | 61 | Cryptocurrency | GOOW vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.23 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | GOOW vs SBIT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GOOW, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Realty Income Corporation (O) (Real Estate) with a 1Y correlation of -0.06, roughly unchanged from -0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Realty Income Corporation | -0.06 | -0.05 | -0.05 | 77 | Real Estate | |
| BlackRock Science and Technology Trust | 0.43 | 0.43 | 0.43 | 80 | Financial Services | |
| Alphabet Inc. Class A | 0.99 | — | — | 95 | Communication Services |
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