Looking to balance out your exposure to POWW? The ETFs below have the lowest correlation with POWW — they tend to move on their own, which can help reduce risk when POWW drops. The stock ideas table highlights individual companies that behave independently from POWW.
Best Diversifiers for POWW
0 ETFs have low correlation with POWW (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.34, roughly unchanged from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.34 | 0.34 | 0.43 | 70 | S&P 500 | POWW vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from POWW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to POWW and solid risk/return profiles. The least correlated is AMMO, Inc. (POWWP) (Industrials) with a 1Y correlation of -0.01, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AMMO, Inc. | -0.01 | 0.04 | 0.09 | 74 | Industrials | |
| Redwire Corporation | 0.14 | 0.29 | — | 51 | Industrials |
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