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
323 ETFs have low correlation with PKW (below 0.3), 57 of which are negatively correlated. The least correlated is United States 12 Month Oil Fund LP (USL) (Oil & Gas) with a 1Y correlation of -0.24, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States 12 Month Oil Fund LP | -0.24 | 0.03 | 0.16 | 56 | Oil & Gas | PKW vs USL | |
| Invesco DB Energy Fund | -0.23 | -0.00 | 0.15 | 71 | Oil & Gas | PKW vs DBE | |
| United States Oil Fund LP | -0.22 | 0.01 | 0.14 | 66 | Oil & Gas | PKW vs USO | |
| United States Brent Oil Fund LP | -0.22 | 0.01 | 0.14 | 65 | Oil & Gas | PKW vs BNO | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.22 | 0.03 | 0.16 | 55 | Oil & Gas | PKW vs OILK |
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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 Tesla, Inc. (TSLA) (Consumer Cyclical) with a 1Y correlation of 0.29, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tesla, Inc. | 0.29 | 0.35 | 0.40 | 55 | Consumer Cyclical |
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