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
399 ETFs have low correlation with IWL (below 0.3), 74 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.49 | — | — | 68 | Inverse Equities, Leveraged Equities | IWL vs MSTZ | |
| Defiance Daily Target 2X Short MSTR ETF | -0.49 | -0.47 | -0.47 | 60 | Inverse Equities | IWL vs SMST | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.46 | — | — | 70 | Derivative Income | IWL vs WNTR | |
| ProShares Short Bitcoin ETF | -0.46 | -0.36 | -0.38 | 57 | Cryptocurrency | IWL vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.46 | -0.42 | -0.42 | 52 | Cryptocurrency, Leveraged Cryptocurrency | IWL vs SBIT |
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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 -0.16, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Murphy USA Inc. | -0.16 | 0.07 | 0.18 | 77 | Consumer Cyclical | |
| Cboe Global Markets, Inc. | -0.15 | -0.15 | 0.11 | 62 | Financial Services | |
| Walmart Inc. | -0.06 | 0.18 | 0.29 | 71 | Consumer Defensive | |
| Palo Alto Networks, Inc. | 0.37 | 0.47 | 0.53 | 84 | Technology | |
| Fabrinet | 0.47 | 0.52 | 0.55 | 74 | Technology |
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