Looking to balance out your exposure to WAVE? The ETFs below have the lowest correlation with WAVE — they tend to move on their own, which can help reduce risk when WAVE drops. The stock ideas table highlights individual companies that behave independently from WAVE.
No Diversifiers Found for WAVE
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WAVE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WAVE and solid risk/return profiles. The least correlated is Alliance Entertainment Holding Corporation Class A Common Stock (AENT) (Communication Services) with a 1Y correlation of -0.01, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Alliance Entertainment Holding Corporation Class A... | -0.01 | 0.04 | 0.03 | 66 | Communication Services | |
| United States Antimony Corporation | 0.01 | 0.07 | — | 82 | Basic Materials | |
| Red Cat Holdings, Inc. | 0.05 | 0.09 | — | 69 | Technology | |
| Intuitive Machines Inc. | 0.06 | 0.06 | — | 86 | Industrials | |
| MSCI Inc. | 0.07 | 0.12 | — | 50 | Financial Services |
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