Looking to balance out your exposure to ITW? The ETFs below have the lowest correlation with ITW — they tend to move on their own, which can help reduce risk when ITW drops. The stock ideas table highlights individual companies that behave independently from ITW.
Best Diversifiers for ITW
2 ETFs have low correlation with ITW (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.19, down from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.19 | 0.31 | 0.44 | 59 | Nasdaq-100 | ITW vs QQQ | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.24 | 0.33 | — | 67 | Nasdaq-100, Derivative Income | ITW vs JEPQ | |
| Vanguard S&P 500 ETF | 0.34 | 0.46 | 0.58 | 70 | S&P 500 | ITW vs VOO | |
| State Street SPDR S&P 500 ETF | 0.34 | 0.47 | 0.58 | 70 | S&P 500 | ITW vs SPY | |
| Vanguard Total Stock Market ETF | 0.37 | 0.49 | 0.59 | 70 | Large Cap Blend Equities | ITW vs VTI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ITW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ITW and solid risk/return profiles. The least correlated is Canadian Utilities Limited (CDUAF) (Utilities) with a 1Y correlation of -0.05, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Utilities Limited | -0.05 | 0.08 | 0.17 | 96 | Utilities | |
| Broadcom Inc. | -0.03 | 0.13 | 0.29 | 71 | Technology | |
| NVIDIA Corporation | -0.02 | 0.09 | 0.25 | 66 | Technology | |
| NIO Inc. | -0.01 | 0.19 | 0.25 | 56 | Consumer Cyclical | |
| Fortinet, Inc. | -0.01 | 0.14 | 0.28 | 77 | Technology |
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Build a portfolio that complements ITW
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