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
48 ETFs have low correlation with PWR (below 0.3), 14 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 -0.02 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 | -0.05 | -0.02 | 100 | Ultrashort Bond | PWR vs SGOV | |
| WisdomTree Floating Rate Treasury Fund | -0.12 | -0.05 | -0.04 | 100 | Government Bonds, Ultrashort Bond | PWR vs USFR | |
| iShares 0-1 Year Treasury Bond ETF | -0.08 | -0.02 | -0.02 | 100 | Government Bonds, Ultrashort Bond | PWR vs SHV | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.06 | -0.04 | 0.05 | 83 | Inflation-Protected Bonds | PWR vs VTIP | |
| iShares 0-5 Year TIPS Bond ETF | -0.05 | -0.04 | 0.04 | 85 | Inflation-Protected Bonds | PWR vs STIP |
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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 Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.15, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.15 | -0.05 | 0.06 | 61 | Utilities | |
| Verizon Communications Inc. | -0.15 | -0.07 | 0.02 | 66 | Communication Services | |
| The Coca-Cola Company | -0.12 | -0.02 | 0.11 | 74 | Consumer Defensive | |
| Altria Group, Inc. | -0.11 | -0.03 | 0.09 | 72 | Consumer Defensive | |
| Chubb Limited | -0.10 | 0.05 | 0.21 | 69 | Financial Services |
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Build a portfolio that complements PWR
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