Looking to diversify beyond RWL? The ETFs below have the lowest correlation with RWL — 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 RWL.
Best Diversifiers for RWL
307 ETFs have low correlation with RWL (below 0.3), 43 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.22, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.22 | -0.01 | 0.16 | 71 | Oil & Gas | RWL vs DBE | |
| United States Oil Fund LP | -0.21 | -0.00 | 0.15 | 66 | Oil & Gas | RWL vs USO | |
| United States Brent Oil Fund LP | -0.21 | -0.00 | 0.14 | 65 | Oil & Gas | RWL vs BNO | |
| United States 12 Month Oil Fund LP | -0.20 | 0.01 | 0.17 | 56 | Oil & Gas | RWL vs USL | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.20 | 0.03 | 0.17 | 55 | Oil & Gas | RWL vs OILK |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from RWL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to RWL and solid risk/return profiles. The least correlated is Diamondback Energy, Inc. (FANG) (Energy) with a 1Y correlation of 0.09, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Diamondback Energy, Inc. | 0.09 | 0.28 | 0.40 | 82 | Energy | |
| Exxon Mobil Corporation | 0.09 | 0.30 | 0.41 | 85 | Energy | |
| ConocoPhillips Company | 0.14 | 0.30 | 0.40 | 76 | Energy | |
| Palo Alto Networks, Inc. | 0.14 | 0.30 | 0.37 | 67 | Technology | |
| NVIDIA Corporation | 0.19 | 0.26 | 0.43 | 78 | Technology |
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