Looking to balance out your exposure to PW? The ETFs below have the lowest correlation with PW — they tend to move on their own, which can help reduce risk when PW drops. The stock ideas table highlights individual companies that behave independently from PW.
Best Diversifiers for PW
2 ETFs have low correlation with PW (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Technology Select Sector SPDR ETF (XLK) (Technology Equities) with a 1Y correlation of 0.12, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Technology Select Sector SPDR ETF | 0.12 | 0.08 | 0.18 | 83 | Technology Equities | PW vs XLK | |
| State Street SPDR S&P 500 ETF | 0.12 | 0.08 | 0.20 | 70 | S&P 500 | PW vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PW and solid risk/return profiles. The least correlated is International Seaways, Inc. (INSW) (Energy) with a 1Y correlation of -0.02, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| International Seaways, Inc. | -0.02 | 0.05 | 0.08 | 95 | Energy | |
| NVIDIA Corporation | 0.03 | 0.04 | 0.14 | 78 | Technology |
Build a portfolio that complements PW
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