Looking to balance out your exposure to PWR? The ETFs below have historically moved differently from PWR, 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 PWR
77 ETFs have low correlation with PWR (below 0.3), 19 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.23, down from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.23 | -0.06 | -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 | |
| iShares 0-1 Year Treasury Bond ETF | -0.13 | -0.02 | -0.03 | 100 | Government Bonds, Ultrashort Bond | PWR vs SHV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.12 | -0.09 | -0.02 | 100 | Government Bonds, Ultrashort Bond | PWR vs BIL | |
| F/m US Treasury 3 Month Bill ETF | -0.12 | -0.00 | — | 100 | Ultrashort Bond | PWR vs TBIL |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PWR, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Colgate-Palmolive Company (CL) (Consumer Defensive) with a 1Y correlation of -0.27, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Colgate-Palmolive Company | -0.27 | -0.09 | 0.02 | 61 | Consumer Defensive | |
| The Coca-Cola Company | -0.22 | -0.05 | 0.08 | 86 | Consumer Defensive | |
| Church & Dwight Co., Inc. | -0.22 | -0.07 | -0.00 | 62 | Consumer Defensive | |
| Verizon Communications Inc. | -0.20 | -0.11 | -0.00 | 63 | Communication Services | |
| The Allstate Corporation | -0.20 | 0.06 | 0.19 | 80 | Financial Services |
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