Looking to diversify beyond PWRD? The ETFs below have historically moved differently from PWRD, 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 PWRD
456 ETFs have low correlation with PWRD (below 0.3), 99 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.41, roughly unchanged from -0.34 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.41 | -0.34 | — | 61 | Cryptocurrency | PWRD vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.41 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | PWRD vs SBIT | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.35 | — | — | 61 | Inverse Equities, Leveraged Equities | PWRD vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.33 | — | — | 75 | Derivative Income | PWRD vs WNTR | |
| Alpha Architect Tail Risk ETF | -0.32 | -0.09 | — | 56 | Options Trading | PWRD vs CAOS |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PWRD, 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 Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of 0.34, down from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.34 | 0.43 | 0.48 | 60 | Consumer Cyclical | |
| JPMorgan Chase & Co. | 0.38 | 0.45 | 0.52 | 71 | Financial Services | |
| Micron Technology, Inc. | 0.62 | 0.56 | — | 99 | Technology | |
| Broadcom Inc. | 0.65 | 0.62 | — | 67 | Technology |
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