Looking to diversify beyond IWX? The ETFs below have the lowest correlation with IWX — 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 IWX.
Best Diversifiers for IWX
314 ETFs have low correlation with IWX (below 0.3), 35 of which are negatively correlated. The least correlated is T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) (Inverse Equities) with a 1Y correlation of -0.39, roughly unchanged from -0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.39 | -0.33 | -0.33 | 60 | Inverse Equities, Leveraged Equities | IWX vs MSTZ | |
| Defiance Daily Target 2X Short MSTR ETF | -0.39 | -0.33 | -0.33 | 53 | Inverse Equities | IWX vs SMST | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.36 | — | — | 65 | Derivative Income | IWX vs WNTR | |
| Return Stacked Bonds & Futures Yield ETF | -0.23 | — | — | 51 | Multistrategy | IWX vs RSBY | |
| ProShares UltraShort Yen | -0.23 | -0.09 | -0.06 | 75 | Leveraged Currency | IWX vs YCS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IWX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IWX and solid risk/return profiles. The least correlated is Palo Alto Networks, Inc. (PANW) (Technology) with a 1Y correlation of 0.15, down from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Palo Alto Networks, Inc. | 0.15 | 0.24 | 0.32 | 82 | Technology | |
| NVIDIA Corporation | 0.22 | 0.22 | 0.37 | 69 | Technology | |
| Broadcom Inc. | 0.26 | 0.28 | 0.43 | 73 | Technology | |
| AstraZeneca PLC | 0.28 | 0.34 | 0.36 | 70 | Healthcare | |
| Gilead Sciences, Inc. | 0.30 | 0.37 | 0.41 | 62 | Healthcare |
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