Looking to diversify beyond RWO? The ETFs below have historically moved differently from RWO, 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 RWO
744 ETFs have low correlation with RWO (below 0.3), 53 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.37, down from -0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.37 | -0.30 | -0.23 | 59 | Leveraged Currency | RWO vs YCS | |
| FolioBeyond Alternative Income and Interest Rate H... | -0.30 | -0.20 | -0.16 | 51 | Nontraditional Bonds | RWO vs RISR | |
| Invesco DB Energy Fund | -0.28 | -0.15 | 0.01 | 66 | Oil & Gas | RWO vs DBE | |
| United States Gasoline Fund, LP | -0.26 | -0.12 | 0.01 | 83 | Oil & Gas | RWO vs UGA | |
| Invesco DB Oil Fund | -0.24 | -0.12 | 0.02 | 51 | Oil & Gas | RWO vs DBO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for RWO, 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 Annaly Capital Management, Inc. (NLY) (Real Estate) with a 1Y correlation of 0.49, roughly unchanged from 0.55 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Annaly Capital Management, Inc. | 0.49 | 0.54 | 0.55 | 79 | Real Estate | |
| W. P. Carey Inc. | 0.65 | 0.69 | 0.72 | 75 | Real Estate | |
| Prologis, Inc. | 0.76 | 0.79 | 0.80 | 91 | Real Estate |
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