Looking to diversify beyond PWRD? The ETFs below have the lowest correlation with PWRD — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PWRD.
Best Diversifiers for PWRD
368 ETFs have low correlation with PWRD (below 0.3), 63 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.39, roughly unchanged from -0.36 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.39 | -0.34 | -0.36 | 57 | Cryptocurrency | PWRD vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.39 | -0.38 | -0.38 | 52 | Cryptocurrency, Leveraged Cryptocurrency | PWRD vs SBIT | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.34 | — | — | 68 | Inverse Equities, Leveraged Equities | PWRD vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.31 | — | — | 70 | Derivative Income | PWRD vs WNTR | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.23 | — | — | 97 | Inflation-Protected Bonds | PWRD vs RBIL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PWRD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PWRD and solid risk/return profiles. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of 0.35, roughly unchanged from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.35 | 0.40 | 0.44 | 54 | Consumer Cyclical | |
| JPMorgan Chase & Co. | 0.37 | 0.42 | 0.49 | 69 | Financial Services | |
| Micron Technology, Inc. | 0.58 | 0.55 | — | 99 | Technology | |
| Broadcom Inc. | 0.63 | 0.62 | — | 71 | Technology |
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