Looking to diversify beyond PWZ? The ETFs below have historically moved differently from PWZ, 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 PWZ
1157 ETFs have low correlation with PWZ (below 0.3), 101 of which are negatively correlated. The least correlated is Invesco DB Oil Fund (DBO) (Oil & Gas) with a 1Y correlation of -0.36, down from -0.06 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Oil Fund | -0.36 | -0.11 | -0.06 | 58 | Oil & Gas | PWZ vs DBO | |
| Invesco DB Energy Fund | -0.36 | -0.12 | -0.06 | 72 | Oil & Gas | PWZ vs DBE | |
| United States Brent Oil Fund LP | -0.35 | -0.11 | -0.06 | 52 | Oil & Gas | PWZ vs BNO | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.35 | -0.10 | -0.04 | 67 | Commodities | PWZ vs GSG | |
| United States Oil Fund LP | -0.34 | -0.11 | -0.06 | 55 | Oil & Gas | PWZ vs USO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PWZ, 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 Intel Corporation (INTC) (Technology) with a 1Y correlation of 0.13, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Intel Corporation | 0.13 | 0.08 | 0.10 | 98 | Technology | |
| Callaway Golf Company | 0.14 | 0.11 | 0.11 | 90 | Consumer Cyclical |
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