Looking to balance out your exposure to GWRE? The ETFs below have the lowest correlation with GWRE — they tend to move on their own, which can help reduce risk when GWRE drops. The stock ideas table highlights individual companies that behave independently from GWRE.
Best Diversifiers for GWRE
3 ETFs have low correlation with GWRE (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.21, down from 0.54 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.21 | 0.43 | 0.54 | 70 | S&P 500 | GWRE vs SPY | |
| Vanguard S&P 500 ETF | 0.21 | 0.43 | 0.54 | 70 | S&P 500 | GWRE vs VOO | |
| Invesco QQQ ETF | 0.23 | 0.42 | 0.56 | 73 | Nasdaq-100 | GWRE vs QQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GWRE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GWRE and solid risk/return profiles. The least correlated is Comfort Systems USA, Inc. (FIX) (Industrials) with a 1Y correlation of -0.11, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Comfort Systems USA, Inc. | -0.11 | 0.24 | 0.30 | 98 | Industrials | |
| GE Vernova Inc. | -0.09 | — | — | 87 | Utilities | |
| CVS Health Corporation | -0.09 | 0.03 | 0.08 | 80 | Healthcare | |
| EMCOR Group, Inc. | -0.07 | 0.23 | 0.28 | 83 | Industrials | |
| Howmet Aerospace Inc. | -0.07 | 0.24 | 0.29 | 79 | Industrials |
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