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
391 ETFs have low correlation with IWL (below 0.3), 87 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.32, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.32 | -0.07 | 0.06 | 66 | Oil & Gas | IWL vs USO | |
| Invesco DB Energy Fund | -0.31 | -0.07 | 0.08 | 71 | Oil & Gas | IWL vs DBE | |
| United States Brent Oil Fund LP | -0.30 | -0.06 | 0.06 | 65 | Oil & Gas | IWL vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.29 | — | — | 56 | Derivative Income | IWL vs USOY | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.28 | -0.03 | 0.08 | 55 | Oil & Gas | IWL vs OILK |
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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 Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.11, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.11 | -0.13 | 0.12 | 68 | Financial Services | |
| Murphy USA Inc. | -0.10 | 0.11 | 0.19 | 62 | Consumer Cyclical | |
| Walmart Inc. | -0.01 | 0.21 | 0.31 | 63 | Consumer Defensive | |
| Palo Alto Networks, Inc. | 0.33 | 0.48 | 0.53 | 67 | Technology | |
| Fabrinet | 0.49 | 0.52 | 0.56 | 93 | Technology |
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