Looking to diversify beyond IWL? The ETFs below have the lowest correlation with IWL — 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 IWL.
Best Diversifiers for IWL
322 ETFs have low correlation with IWL (below 0.3), 43 of which are negatively correlated. The least correlated is United States Gasoline Fund LP (UGA) (Oil & Gas) with a 1Y correlation of -0.26, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Gasoline Fund LP | -0.26 | -0.05 | 0.07 | 55 | Oil & Gas | IWL vs UGA | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.23 | — | — | 98 | Inflation-Protected Bonds | IWL vs IBIC | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.22 | -0.20 | -0.20 | 97 | Inflation-Protected Bonds | IWL vs RBIL | |
| Direxion Daily NFLX Bear 1X Shares | -0.21 | -0.36 | -0.36 | 55 | Inverse Equities | IWL vs NFXS | |
| ProShares UltraShort Yen | -0.19 | -0.02 | -0.01 | 63 | Leveraged Currency | IWL vs YCS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IWL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IWL and solid risk/return profiles. The least correlated is Murphy USA Inc. (MUSA) (Consumer Cyclical) with a 1Y correlation of -0.15, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Murphy USA Inc. | -0.15 | 0.08 | 0.18 | 66 | Consumer Cyclical | |
| Cboe Global Markets, Inc. | -0.13 | -0.14 | 0.12 | 55 | Financial Services | |
| Walmart Inc. | -0.04 | 0.20 | 0.30 | 69 | Consumer Defensive | |
| Palo Alto Networks, Inc. | 0.36 | 0.48 | 0.53 | 69 | Technology | |
| Fabrinet | 0.48 | 0.52 | 0.56 | 85 | Technology |
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