Looking to balance out your exposure to WAT? The ETFs below have the lowest correlation with WAT — they tend to move on their own, which can help reduce risk when WAT drops. The stock ideas table highlights individual companies that behave independently from WAT.
Best Diversifiers for WAT
2 ETFs have low correlation with WAT (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Semiconductor ETF (SOXX) (Semiconductors) with a 1Y correlation of 0.25, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Semiconductor ETF | 0.25 | 0.32 | 0.40 | 91 | Semiconductors, Technology Equities | WAT vs SOXX | |
| Invesco QQQ ETF | 0.27 | 0.31 | 0.43 | 53 | Nasdaq-100 | WAT vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.35 | 0.42 | 0.52 | 65 | S&P 500 | WAT vs SPY | |
| Vanguard S&P 500 ETF | 0.36 | 0.42 | 0.52 | 66 | S&P 500 | WAT vs VOO | |
| Vanguard Total Stock Market ETF | 0.39 | 0.44 | 0.53 | 66 | Large Cap Blend Equities | WAT vs VTI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WAT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WAT and solid risk/return profiles. The least correlated is Kinder Morgan, Inc. (KMI) (Energy) with a 1Y correlation of -0.15, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kinder Morgan, Inc. | -0.15 | 0.08 | 0.19 | 77 | Energy | |
| Verizon Communications Inc. | -0.06 | 0.12 | 0.16 | 61 | Communication Services | |
| Philip Morris International Inc. | -0.05 | 0.09 | 0.17 | 52 | Consumer Defensive | |
| Walmart Inc. | -0.04 | 0.09 | 0.20 | 69 | Consumer Defensive | |
| Archer-Daniels-Midland Company | -0.02 | 0.11 | 0.19 | 92 | Consumer Defensive |
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Build a portfolio that complements WAT
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