Looking to balance out your exposure to WAL? The ETFs below have the lowest correlation with WAL — they tend to move on their own, which can help reduce risk when WAL drops. The stock ideas table highlights individual companies that behave independently from WAL.
Best Diversifiers for WAL
0 ETFs have low correlation with WAL (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.37, down from 0.48 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.37 | 0.38 | 0.48 | 73 | Nasdaq-100 | WAL vs QQQ | |
| Vanguard S&P 500 ETF | 0.52 | 0.51 | 0.58 | 70 | S&P 500 | WAL vs VOO | |
| State Street SPDR S&P 500 ETF | 0.52 | 0.51 | 0.58 | 70 | S&P 500 | WAL vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WAL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WAL and solid risk/return profiles. The least correlated is Eni S.p.A. (E) (Energy) with a 1Y correlation of 0.05, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eni S.p.A. | 0.05 | 0.17 | 0.28 | 97 | Energy | |
| CVS Health Corporation | 0.06 | 0.16 | 0.23 | 80 | Healthcare | |
| Photronics, Inc. | 0.35 | 0.40 | 0.43 | 75 | Technology | |
| Genworth Financial, Inc. | 0.47 | 0.50 | 0.49 | 62 | Financial Services | |
| Flagstar Financial, Inc. | 0.60 | 0.61 | 0.64 | 61 | Financial Services |
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