Looking to balance out your exposure to GWH? The ETFs below have the lowest correlation with GWH — they tend to move on their own, which can help reduce risk when GWH drops. The stock ideas table highlights individual companies that behave independently from GWH.
Best Diversifiers for GWH
3 ETFs have low correlation with GWH (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Vectors Rare Earth/Strategic Metals ETF (REMX) (Materials) with a 1Y correlation of 0.19, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Vectors Rare Earth/Strategic Metals ETF | 0.19 | 0.33 | 0.32 | 87 | Materials | GWH vs REMX | |
| State Street SPDR S&P 500 ETF | 0.29 | 0.31 | 0.35 | 70 | S&P 500 | GWH vs SPY | |
| First Trust Nasdaq Clean Edge Smart GRID Infrastru... | 0.30 | 0.35 | 0.37 | 79 | Alternative Energy Equities | GWH vs GRID |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GWH, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GWH and solid risk/return profiles. The least correlated is Alphabet Inc. Class A (GOOGL) (Communication Services) with a 1Y correlation of 0.09, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alphabet Inc. Class A | 0.09 | 0.14 | 0.23 | 96 | Communication Services | |
| Energy Vault Holdings, Inc. | 0.19 | 0.31 | — | 95 | Utilities | |
| Perpetua Resources Corp | 0.26 | 0.19 | 0.16 | 61 | Basic Materials |
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