Looking to diversify beyond PKW? The ETFs below have the lowest correlation with PKW — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PKW.
Best Diversifiers for PKW
289 ETFs have low correlation with PKW (below 0.3), 45 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.34, roughly unchanged from -0.32 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.34 | -0.32 | — | 52 | Cryptocurrency | PKW vs BITI | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.34 | — | — | 70 | Inverse Equities, Leveraged Equities | PKW vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.31 | — | — | 73 | Derivative Income | PKW vs WNTR | |
| Invesco DB Energy Fund | -0.27 | -0.04 | 0.13 | 57 | Oil & Gas | PKW vs DBE | |
| United States Gasoline Fund LP | -0.22 | -0.02 | 0.12 | 84 | Oil & Gas | PKW vs UGA |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PKW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PKW and solid risk/return profiles. The least correlated is Hycroft Mining Holding Corporation (HYMC) (Basic Materials) with a 1Y correlation of 0.15, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hycroft Mining Holding Corporation | 0.15 | 0.16 | 0.19 | 95 | Basic Materials | |
| Broadcom Inc. | 0.16 | 0.29 | 0.44 | 67 | Technology | |
| Newmont Corporation | 0.21 | 0.25 | 0.24 | 76 | Basic Materials | |
| Albemarle Corporation | 0.23 | 0.39 | 0.48 | 76 | Basic Materials | |
| Vertiv Holdings Co. | 0.23 | 0.36 | 0.47 | 92 | Industrials |
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