Looking to balance out your exposure to WBA? The ETFs below have the lowest correlation with WBA — they tend to move on their own, which can help reduce risk when WBA drops. The stock ideas table highlights individual companies that behave independently from WBA.
Best Diversifiers for WBA
9 ETFs have low correlation with WBA (below 0.3), 2 of which are negatively correlated. The least correlated is iShares 0-1 Year Treasury Bond ETF (SHV) (Government Bonds) with a 1Y correlation of -0.01, roughly unchanged from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-1 Year Treasury Bond ETF | -0.01 | 0.01 | 0.00 | 100 | Government Bonds, Ultrashort Bond | WBA vs SHV | |
| VanEck Vectors Steel ETF | -0.01 | 0.23 | 0.32 | 75 | Materials | WBA vs SLX | |
| JPMorgan Ultra-Short Income ETF | 0.01 | 0.08 | 0.04 | 99 | Ultrashort Bond | WBA vs JPST | |
| State Street SPDR S&P 500 ETF | 0.02 | 0.17 | 0.34 | 60 | S&P 500 | WBA vs SPY | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.03 | -0.05 | -0.05 | 100 | Government Bonds, Ultrashort Bond | WBA vs BIL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WBA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WBA and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lithium Americas Corp. | -0.09 | — | — | 65 | Basic Materials | |
| The Williams Companies, Inc. | -0.09 | 0.11 | 0.25 | 75 | Energy | |
| Marvell Technology, Inc. | -0.06 | 0.05 | 0.18 | 96 | Technology | |
| Chevron Corporation | -0.06 | 0.13 | 0.22 | 70 | Energy | |
| Tesla, Inc. | -0.06 | 0.11 | 0.18 | 50 | Consumer Cyclical |
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