Looking to balance out your exposure to RDW? The ETFs below have the lowest correlation with RDW — they tend to move on their own, which can help reduce risk when RDW drops. The stock ideas table highlights individual companies that behave independently from RDW.
Best Diversifiers for RDW
0 ETFs have low correlation with RDW (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco Dynamic Building & Construction ETF (PKB) (Building & Construction) with a 1Y correlation of 0.32, roughly unchanged from 0.39 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Dynamic Building & Construction ETF | 0.32 | 0.39 | — | 55 | Building & Construction | RDW vs PKB | |
| VanEck Semiconductor ETF | 0.35 | 0.34 | — | 94 | Semiconductors, Technology Equities | RDW vs SMH | |
| Invesco S&P 500 Momentum ETF | 0.39 | 0.38 | — | 70 | Momentum, S&P 500 | RDW vs SPMO | |
| iShares Expanded Tech Sector ETF | 0.39 | 0.37 | 0.39 | 61 | Technology Equities | RDW vs IGM | |
| iShares U.S. Technology ETF | 0.40 | 0.37 | — | 59 | Technology Equities | RDW vs IYW |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RDW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RDW and solid risk/return profiles. The least correlated is Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of -0.15, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.15 | -0.04 | -0.01 | 62 | Communication Services | |
| NVIDIA Corporation | 0.15 | 0.22 | 0.29 | 70 | Technology | |
| NIO Inc. | 0.16 | 0.18 | 0.27 | 62 | Consumer Cyclical | |
| Ardelyx, Inc. | 0.20 | 0.21 | — | 76 | Healthcare | |
| General Electric Company | 0.20 | 0.24 | 0.27 | 80 | Industrials |
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Build a portfolio that complements RDW
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