Looking to balance out your exposure to WATT? The ETFs below have the lowest correlation with WATT — they tend to move on their own, which can help reduce risk when WATT drops. The stock ideas table highlights individual companies that behave independently from WATT.
Best Diversifiers for WATT
2 ETFs have low correlation with WATT (below 0.3), 0 of which are negatively correlated. The least correlated is iShares MSCI Global Silver and Metals Miners ETF (SLVP) (Silver) with a 1Y correlation of 0.21, roughly unchanged from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI Global Silver and Metals Miners ETF | 0.21 | 0.21 | 0.20 | 55 | Silver, Precious Metals | WATT vs SLVP | |
| Amplify Junior Silver Miners ETF | 0.23 | 0.22 | 0.22 | 54 | Silver, Commodity Producers Equities, Precious Metals | WATT vs SILJ | |
| State Street SPDR S&P 500 ETF | 0.31 | 0.28 | 0.31 | 70 | S&P 500 | WATT vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WATT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WATT and solid risk/return profiles. The least correlated is Tri Pointe Homes, Inc. (TPH) (Consumer Cyclical) with a 1Y correlation of 0.10, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tri Pointe Homes, Inc. | 0.10 | 0.12 | 0.16 | 79 | Consumer Cyclical | |
| Equinox Gold Corp. | 0.14 | 0.14 | 0.15 | 69 | Basic Materials | |
| Aris Water Solutions, Inc. | 0.17 | 0.20 | — | 93 | Utilities | |
| Sumitomo Mitsui Financial Group, Inc. | 0.18 | 0.13 | 0.13 | 82 | Financial Services | |
| Silvercorp Metals Inc. | 0.19 | 0.17 | 0.19 | 91 | Basic Materials |
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