Looking to balance out your exposure to POWL? The ETFs below have the lowest correlation with POWL — they tend to move on their own, which can help reduce risk when POWL drops. The stock ideas table highlights individual companies that behave independently from POWL.
Best Diversifiers for POWL
16 ETFs have low correlation with POWL (below 0.3), 4 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.19, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.19 | -0.06 | -0.03 | 100 | Ultrashort Bond | POWL vs SGOV | |
| iShares Treasury Floating Rate Bond ETF | -0.06 | -0.07 | -0.06 | 100 | Government Bonds, Ultrashort Bond | POWL vs TFLO | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.04 | -0.07 | 0.01 | 89 | Inflation-Protected Bonds | POWL vs VTIP | |
| iShares 0-5 Year TIPS Bond ETF | -0.01 | -0.05 | 0.01 | 91 | Inflation-Protected Bonds | POWL vs STIP | |
| PIMCO Enhanced Short Maturity Active ETF | 0.01 | -0.02 | 0.04 | 100 | Ultrashort Bond | POWL vs MINT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from POWL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to POWL and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.31, down from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.31 | -0.08 | 0.00 | 56 | Industrials | |
| Cboe Global Markets, Inc. | -0.18 | -0.14 | -0.04 | 60 | Financial Services | |
| Arch Capital Group Ltd. | -0.17 | 0.05 | 0.14 | 62 | Financial Services | |
| McKesson Corporation | -0.17 | -0.05 | 0.04 | 62 | Healthcare | |
| The Allstate Corporation | -0.16 | 0.03 | 0.12 | 76 | Financial Services |
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