Looking to diversify beyond ICOW? The ETFs below have the lowest correlation with ICOW — 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 ICOW.
Best Diversifiers for ICOW
300 ETFs have low correlation with ICOW (below 0.3), 26 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.37, down from -0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.37 | -0.28 | -0.22 | 63 | Leveraged Currency | ICOW vs YCS | |
| TCW AAA CLO ETF | -0.15 | — | — | 99 | CLO | ICOW vs ACLO | |
| Texas Capital Government Money Market ETF | -0.12 | — | — | 100 | Money Market | ICOW vs MMKT | |
| United States Gasoline Fund LP | -0.11 | 0.09 | 0.23 | 55 | Oil & Gas | ICOW vs UGA | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.08 | — | — | 98 | Inflation-Protected Bonds | ICOW vs IBIC |
See all 1948 diversifiers for ICOW
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