Looking to diversify beyond ICOW? The ETFs below have historically moved differently from ICOW, 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 ICOW
365 ETFs have low correlation with ICOW (below 0.3), 27 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.40, down from -0.27 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.40 | -0.27 | — | 51 | Cryptocurrency | ICOW vs BITI | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.36 | — | — | 69 | Derivative Income | ICOW vs WNTR | |
| ProShares UltraShort Yen | -0.33 | -0.28 | -0.23 | 59 | Leveraged Currency | ICOW vs YCS | |
| FolioBeyond Alternative Income and Interest Rate H... | -0.20 | -0.11 | -0.05 | 51 | Nontraditional Bonds | ICOW vs RISR | |
| Invesco DB Energy Fund | -0.15 | 0.09 | 0.24 | 66 | Oil & Gas | ICOW vs DBE |
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