Looking to balance out your exposure to WDC? The ETFs below have the lowest correlation with WDC — they tend to move on their own, which can help reduce risk when WDC drops. The stock ideas table highlights individual companies that behave independently from WDC.
Best Diversifiers for WDC
93 ETFs have low correlation with WDC (below 0.3), 24 of which are negatively correlated. The least correlated is Franklin U.S. Low Volatility High Dividend Index ETF (LVHD) (Dividend) with a 1Y correlation of -0.21, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin U.S. Low Volatility High Dividend Index E... | -0.21 | -0.02 | 0.19 | 60 | Dividend | WDC vs LVHD | |
| iShares Core High Dividend ETF | -0.17 | 0.01 | 0.23 | 85 | Dividend, Large Cap Value Equities | WDC vs HDV | |
| First Trust Morningstar Dividend Leaders Index Fun... | -0.16 | 0.05 | 0.26 | 87 | Large Cap Value Equities, Dividend | WDC vs FDL | |
| Global X MLP & Energy Infrastructure ETF | -0.13 | 0.11 | 0.26 | 75 | MLPs | WDC vs MLPX | |
| Alerian MLP ETF | -0.13 | 0.11 | 0.26 | 56 | MLPs | WDC vs AMLP |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WDC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WDC and solid risk/return profiles. The least correlated is Chubb Limited (CB) (Financial Services) with a 1Y correlation of -0.34, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chubb Limited | -0.34 | -0.12 | 0.08 | 82 | Financial Services | |
| Waste Management, Inc. | -0.34 | -0.15 | -0.00 | 56 | Industrials | |
| Duke Energy Corporation | -0.29 | -0.19 | -0.07 | 64 | Utilities | |
| The Allstate Corporation | -0.29 | -0.07 | 0.09 | 76 | Financial Services | |
| Colgate-Palmolive Company | -0.28 | -0.17 | -0.04 | 56 | Consumer Defensive |
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