Looking to diversify beyond RWL? The ETFs below have historically moved differently from RWL, 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 RWL
278 ETFs have low correlation with RWL (below 0.3), 41 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax MSTR Short Option Income Strategy ETF | -0.32 | — | — | 69 | Derivative Income | RWL vs WNTR | |
| ProShares Short Bitcoin ETF | -0.30 | -0.30 | — | 51 | Cryptocurrency | RWL vs BITI | |
| Invesco DB Energy Fund | -0.28 | -0.06 | 0.13 | 66 | Oil & Gas | RWL vs DBE | |
| Invesco DB Oil Fund | -0.23 | -0.04 | 0.13 | 51 | Oil & Gas | RWL vs DBO | |
| United States Gasoline Fund, LP | -0.20 | -0.02 | 0.12 | 83 | Oil & Gas | RWL vs UGA |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for RWL, 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 Diamondback Energy, Inc. (FANG) (Energy) with a 1Y correlation of -0.01, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Diamondback Energy, Inc. | -0.01 | 0.23 | 0.36 | 78 | Energy | |
| Exxon Mobil Corporation | 0.00 | 0.25 | 0.38 | 85 | Energy | |
| ConocoPhillips Company | 0.08 | 0.26 | 0.38 | 73 | Energy | |
| NVIDIA Corporation | 0.16 | 0.23 | 0.37 | 61 | Technology | |
| Palo Alto Networks, Inc. | 0.16 | 0.30 | 0.37 | 90 | Technology |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements RWL
Add RWL to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with RWL