Looking to balance out your exposure to OWL? The ETFs below have historically moved differently from OWL, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for OWL
97 ETFs have low correlation with OWL (below 0.3), 7 of which are negatively correlated. The least correlated is Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) (Commodities) with a 1Y correlation of -0.06, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Optimum Yield Diversified Commodity Strate... | -0.06 | 0.06 | 0.13 | 70 | Commodities | OWL vs PDBC | |
| abrdn Bloomberg All Commodity Strategy K-1 Free ET... | -0.06 | 0.07 | 0.15 | 73 | Commodities | OWL vs BCI | |
| Invesco DB Commodity Index Tracking Fund | -0.06 | 0.06 | 0.14 | 68 | Commodities | OWL vs DBC | |
| KFA Mount Lucas Index Strategy ETF | -0.06 | -0.07 | -0.13 | 51 | Systematic Trend | OWL vs KMLM | |
| Alpha Architect 1-3 Month Box ETF | -0.04 | -0.01 | — | 100 | Ultrashort Bond | OWL vs BOXX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for OWL, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.26, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.26 | -0.11 | 0.02 | 87 | Consumer Defensive | |
| Johnson & Johnson | -0.15 | -0.09 | -0.01 | 96 | Healthcare | |
| Altria Group, Inc. | -0.13 | -0.02 | 0.05 | 66 | Consumer Defensive | |
| Colgate-Palmolive Company | -0.12 | -0.05 | -0.00 | 57 | Consumer Defensive | |
| AbbVie Inc. | -0.12 | 0.04 | 0.06 | 76 | Healthcare |
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