Looking to balance out your exposure to MWA? The ETFs below have the lowest correlation with MWA — they tend to move on their own, which can help reduce risk when MWA drops. The stock ideas table highlights individual companies that behave independently from MWA.
Best Diversifiers for MWA
1 ETFs have low correlation with MWA (below 0.3), 0 of which are negatively correlated. The least correlated is Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) (Nasdaq-100) with a 1Y correlation of 0.29, roughly unchanged from 0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Goldman Sachs Nasdaq-100 Core Premium Income ETF | 0.29 | 0.36 | 0.36 | 70 | Nasdaq-100, Dividend | MWA vs GPIQ | |
| Vanguard S&P 500 ETF | 0.41 | 0.51 | 0.59 | 60 | S&P 500 | MWA vs VOO | |
| State Street SPDR S&P 500 ETF | 0.41 | 0.51 | 0.59 | 60 | S&P 500 | MWA vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MWA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MWA and solid risk/return profiles. The least correlated is Kinross Gold Corporation (KGC) (Basic Materials) with a 1Y correlation of 0.08, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kinross Gold Corporation | 0.08 | 0.12 | 0.16 | 71 | Basic Materials | |
| NVIDIA Corporation | 0.09 | 0.19 | 0.32 | 70 | Technology | |
| Agnico Eagle Mines Limited | 0.09 | 0.13 | 0.12 | 60 | Basic Materials | |
| Barrick Mining Corporation | 0.10 | 0.13 | 0.13 | 82 | Basic Materials | |
| Eli Lilly and Company | 0.11 | 0.13 | 0.17 | 75 | Healthcare |
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