Looking to balance out your exposure to WCN? The ETFs below have the lowest correlation with WCN — they tend to move on their own, which can help reduce risk when WCN drops. The stock ideas table highlights individual companies that behave independently from WCN.
Best Diversifiers for WCN
10 ETFs have low correlation with WCN (below 0.3), 5 of which are negatively correlated. The least correlated is iShares Global Tech ETF (IXN) (Technology Equities) with a 1Y correlation of -0.19, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Global Tech ETF | -0.19 | 0.07 | 0.24 | 76 | Technology Equities | WCN vs IXN | |
| iShares Expanded Tech Sector ETF | -0.18 | 0.07 | 0.23 | 61 | Technology Equities | WCN vs IGM | |
| ProShares UltraPro QQQ | -0.16 | 0.11 | 0.26 | 51 | Leveraged Equities | WCN vs TQQQ | |
| Vanguard S&P 500 ETF | -0.04 | 0.23 | 0.36 | 60 | S&P 500 | WCN vs VOO | |
| Vanguard Total Stock Market ETF | -0.03 | 0.23 | 0.36 | 60 | Large Cap Blend Equities | WCN vs VTI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WCN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WCN and solid risk/return profiles. The least correlated is Canadian Solar Inc. (CSIQ) (Technology) with a 1Y correlation of -0.21, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Solar Inc. | -0.21 | -0.03 | 0.05 | 59 | Technology | |
| First Solar, Inc. | -0.18 | -0.00 | 0.10 | 74 | Technology | |
| Tesla, Inc. | -0.17 | -0.00 | 0.10 | 50 | Consumer Cyclical | |
| Ameresco, Inc. | -0.17 | 0.04 | 0.14 | 75 | Industrials | |
| Broadcom Inc. | -0.16 | 0.01 | 0.15 | 71 | Technology |
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