Looking to balance out your exposure to ITW? The ETFs below have historically moved differently from ITW, 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 ITW
5 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 0.15, down from 0.43 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.15 | 0.29 | 0.43 | 54 | Nasdaq-100 | ITW vs QQQ | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.19 | 0.31 | — | 60 | Nasdaq-100, Derivative Income | ITW vs JEPQ | |
| iShares Semiconductor ETF | 0.21 | 0.30 | 0.41 | 89 | Semiconductors, Technology Equities | ITW vs SOXX | |
| iShares 1-3 Year Treasury Bond ETF | 0.26 | 0.13 | 0.11 | 82 | Government Bonds, Short-Term Bond | ITW vs SHY | |
| iShares 1-5 Year Investment Grade Corporate Bond E... | 0.26 | 0.21 | 0.23 | 69 | Corporate Bonds, Investment Grade Bonds | ITW vs IGSB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ITW, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.04, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.04 | 0.11 | 0.28 | 70 | Technology | |
| Canadian Utilities Limited | -0.04 | 0.09 | 0.17 | 97 | Utilities | |
| Fortinet, Inc. | -0.02 | 0.13 | 0.27 | 83 | Technology | |
| NVIDIA Corporation | -0.01 | 0.08 | 0.25 | 63 | Technology | |
| Chevron Corporation | -0.00 | 0.21 | 0.27 | 72 | Energy |
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