Looking to balance out your exposure to OWL? The ETFs below have the lowest correlation with OWL — they tend to move on their own, which can help reduce risk when OWL drops. The stock ideas table highlights individual companies that behave independently from OWL.
Best Diversifiers for OWL
82 ETFs have low correlation with OWL (below 0.3), 13 of which are negatively correlated. The least correlated is Alpha Architect 1-3 Month Box ETF (BOXX) (Ultrashort Bond) with a 1Y correlation of -0.09, roughly unchanged from -0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Alpha Architect 1-3 Month Box ETF | -0.09 | -0.02 | — | 100 | Ultrashort Bond | OWL vs BOXX | |
| abrdn Bloomberg All Commodity Strategy K-1 Free ET... | -0.05 | 0.09 | 0.16 | 71 | Commodities | OWL vs BCI | |
| iShares 0-3 Month Treasury Bond ETF | -0.05 | 0.05 | 0.02 | 100 | Ultrashort Bond | OWL vs SGOV | |
| United States Oil Fund LP | -0.04 | 0.06 | 0.11 | 66 | Oil & Gas | OWL vs USO | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.04 | -0.04 | -0.03 | 100 | Government Bonds, Ultrashort Bond | OWL vs BIL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from OWL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to OWL and solid risk/return profiles. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.20, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.20 | -0.09 | 0.04 | 66 | Consumer Defensive | |
| Johnson & Johnson | -0.12 | -0.06 | 0.00 | 92 | Healthcare | |
| Altria Group, Inc. | -0.09 | 0.01 | 0.07 | 69 | Consumer Defensive | |
| Duke Energy Corporation | -0.08 | -0.01 | 0.02 | 53 | Utilities | |
| The Hershey Company | -0.07 | -0.04 | -0.00 | 55 | Consumer Defensive |
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