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
11 ETFs have low correlation with WBA (below 0.3), 4 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.03, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.03 | -0.01 | -0.03 | 100 | Government Bonds, Ultrashort Bond | WBA vs BIL | |
| VanEck Vectors Steel ETF | -0.02 | 0.23 | 0.32 | 69 | Materials | WBA vs SLX | |
| JPMorgan Ultra-Short Income ETF | -0.01 | 0.07 | 0.04 | 99 | Ultrashort Bond | WBA vs JPST | |
| iShares 0-1 Year Treasury Bond ETF | -0.01 | 0.02 | -0.00 | 100 | Government Bonds, Ultrashort Bond | WBA vs SHV | |
| State Street SPDR S&P 500 ETF | 0.01 | 0.17 | 0.34 | 65 | S&P 500 | WBA vs SPY |
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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. The least correlated is The Williams Companies, Inc. (WMB) (Energy) with a 1Y correlation of -0.12, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Williams Companies, Inc. | -0.12 | 0.11 | 0.25 | 81 | Energy | |
| Carpenter Technology Corporation | -0.09 | 0.09 | 0.25 | 91 | Industrials | |
| Rivian Automotive, Inc. | -0.09 | 0.22 | — | 64 | Consumer Cyclical | |
| Essex Property Trust, Inc. | -0.06 | 0.23 | 0.31 | 54 | Real Estate | |
| Nordson Corporation | -0.06 | 0.26 | 0.35 | 87 | Industrials |
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