Looking to diversify beyond POW? The ETFs below have historically moved differently from POW, 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 POW
5 ETFs have low correlation with POW (below 0.3), 5 of which are negatively correlated. The least correlated is Strive U.S. Energy ETF (DRLL) (Energy Equities) with a 1Y correlation of -0.10, roughly unchanged from -0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Strive U.S. Energy ETF | -0.10 | -0.10 | -0.10 | 62 | Energy Equities | POW vs DRLL | |
| Westwood Salient Enhanced Midstream Income ETF | -0.09 | -0.09 | -0.09 | 75 | Energy Equities | POW vs MDST | |
| First Trust Nasdaq Oil & Gas ETF | -0.07 | -0.07 | -0.07 | 52 | Energy Equities | POW vs FTXN | |
| VanEck Energy Income ETF | -0.05 | -0.05 | -0.05 | 83 | Energy Equities | POW vs EINC | |
| Invesco S&P 500 Equal Weight Energy ETF | -0.01 | -0.01 | -0.01 | 70 | Energy Equities, S&P 500, Equal Weight | POW vs RSPG |
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