Looking to diversify beyond WANT? The ETFs below have the lowest correlation with WANT — 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 WANT.
Best Diversifiers for WANT
319 ETFs have low correlation with WANT (below 0.3), 68 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.30, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.30 | -0.09 | 0.04 | 71 | Oil & Gas | WANT vs DBE | |
| United States Oil Fund LP | -0.29 | -0.08 | 0.03 | 66 | Oil & Gas | WANT vs USO | |
| Defiance Oil Enhanced Options Income ETF | -0.29 | -0.10 | -0.10 | 56 | Derivative Income | WANT vs USOY | |
| United States Brent Oil Fund LP | -0.28 | -0.08 | 0.03 | 65 | Oil & Gas | WANT vs BNO | |
| Invesco DB Oil Fund | -0.27 | -0.07 | 0.04 | 65 | Oil & Gas | WANT vs DBO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WANT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WANT and solid risk/return profiles. The least correlated is Tesla, Inc. (TSLA) (Consumer Cyclical) with a 1Y correlation of 0.71, roughly unchanged from 0.77 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tesla, Inc. | 0.71 | 0.77 | 0.77 | 55 | Consumer Cyclical |
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