Looking to balance out your exposure to KNBWY? The ETFs below have the lowest correlation with KNBWY — they tend to move on their own, which can help reduce risk when KNBWY drops. The stock ideas table highlights individual companies that behave independently from KNBWY.
Best Diversifiers for KNBWY
3 ETFs have low correlation with KNBWY (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares UltraPro S&P 500 (UPRO) (Leveraged Equities) with a 1Y correlation of 0.13, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro S&P 500 | 0.13 | 0.16 | 0.17 | 66 | Leveraged Equities, S&P 500 | KNBWY vs UPRO | |
| iShares MSCI Emerging Markets ETF | 0.14 | 0.21 | 0.24 | 79 | Emerging Markets Diversified | KNBWY vs EEM | |
| Schwab International Small-Cap Equity ETF | 0.30 | 0.34 | 0.32 | 50 | Foreign Small & Mid Cap Equities | KNBWY vs SCHC |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from KNBWY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to KNBWY and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of -0.09, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | -0.09 | 0.05 | 0.10 | 80 | Technology | |
| Amazon.com, Inc | 0.01 | 0.06 | 0.10 | 62 | Consumer Cyclical | |
| Citigroup Inc. | 0.03 | 0.10 | 0.13 | 93 | Financial Services | |
| Tesla, Inc. | 0.05 | 0.06 | 0.08 | 58 | Consumer Cyclical | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.06 | 0.11 | 0.15 | 95 | Technology |
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