Looking to balance out your exposure to IRWD? The ETFs below have the lowest correlation with IRWD — they tend to move on their own, which can help reduce risk when IRWD drops. The stock ideas table highlights individual companies that behave independently from IRWD.
Best Diversifiers for IRWD
1 ETFs have low correlation with IRWD (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.26, roughly unchanged from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.26 | 0.19 | 0.24 | 73 | Nasdaq-100 | IRWD vs QQQ | |
| Vanguard S&P 500 ETF | 0.30 | 0.26 | 0.30 | 70 | S&P 500 | IRWD vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IRWD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IRWD and solid risk/return profiles. The least correlated is Immunovant, Inc. (IMVT) (Healthcare) with a 1Y correlation of 0.33, roughly unchanged from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Immunovant, Inc. | 0.33 | 0.27 | 0.32 | 86 | Healthcare |
Build a portfolio that complements IRWD
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