Looking to balance out your exposure to LW? The ETFs below have the lowest correlation with LW — they tend to move on their own, which can help reduce risk when LW drops. The stock ideas table highlights individual companies that behave independently from LW.
Best Diversifiers for LW
1 ETFs have low correlation with LW (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Solar ETF (TAN) (Alternative Energy Equities) with a 1Y correlation of 0.17, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Solar ETF | 0.17 | 0.19 | 0.20 | 85 | Alternative Energy Equities | LW vs TAN |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LW and solid risk/return profiles. The least correlated is Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.03, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.03 | 0.10 | 0.16 | 84 | Technology | |
| CrowdStrike Holdings, Inc. | -0.01 | 0.08 | 0.14 | 70 | Technology | |
| Engie SA ADR | 0.00 | 0.06 | 0.17 | 86 | Utilities | |
| CVR Partners, LP | 0.00 | 0.06 | 0.12 | 84 | Basic Materials | |
| Fortinet, Inc. | 0.00 | 0.05 | 0.16 | 66 | Technology |
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