Looking to balance out your exposure to PWR? The ETFs below have the lowest correlation with PWR — they tend to move on their own, which can help reduce risk when PWR drops. The stock ideas table highlights individual companies that behave independently from PWR.
Best Diversifiers for PWR
73 ETFs have low correlation with PWR (below 0.3), 16 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.22, 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 | -0.22 | -0.05 | -0.03 | 100 | Ultrashort Bond | PWR vs SGOV | |
| WisdomTree Floating Rate Treasury Fund | -0.16 | -0.05 | -0.04 | 100 | Government Bonds, Ultrashort Bond | PWR vs USFR | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.11 | -0.09 | -0.02 | 100 | Government Bonds, Ultrashort Bond | PWR vs BIL | |
| iShares Treasury Floating Rate Bond ETF | -0.09 | -0.06 | -0.05 | 100 | Government Bonds, Ultrashort Bond | PWR vs TFLO | |
| F/m US Treasury 3 Month Bill ETF | -0.09 | 0.00 | — | 100 | Ultrashort Bond | PWR vs TBIL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PWR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PWR and solid risk/return profiles. The least correlated is Colgate-Palmolive Company (CL) (Consumer Defensive) with a 1Y correlation of -0.22, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Colgate-Palmolive Company | -0.22 | -0.06 | 0.04 | 56 | Consumer Defensive | |
| Consolidated Edison, Inc. | -0.20 | -0.07 | 0.04 | 70 | Utilities | |
| Chubb Limited | -0.19 | -0.00 | 0.18 | 82 | Financial Services | |
| The Coca-Cola Company | -0.19 | -0.01 | 0.09 | 84 | Consumer Defensive | |
| Verizon Communications Inc. | -0.18 | -0.09 | 0.01 | 61 | Communication Services |
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