Looking to balance out your exposure to WDC? The ETFs below have historically moved differently from WDC, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for WDC
89 ETFs have low correlation with WDC (below 0.3), 27 of which are negatively correlated. The least correlated is First Trust Morningstar Dividend Leaders Index Fund (FDL) (Large Cap Value Equities) with a 1Y correlation of -0.20, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Morningstar Dividend Leaders Index Fun... | -0.20 | 0.03 | 0.24 | 89 | Large Cap Value Equities, Dividend | WDC vs FDL | |
| iShares Core High Dividend ETF | -0.19 | -0.01 | 0.21 | 87 | Dividend, Large Cap Value Equities | WDC vs HDV | |
| Alerian MLP ETF | -0.14 | 0.11 | 0.25 | 55 | MLPs | WDC vs AMLP | |
| Invesco High Yield Equity Dividend Achievers™ ETF | -0.13 | 0.09 | 0.26 | 69 | Mid Cap Value Equities, Dividend | WDC vs PEY | |
| WisdomTree US High Dividend Fund | -0.13 | 0.09 | 0.27 | 88 | Large Cap Value Equities, Dividend | WDC vs DHS |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for WDC, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Colgate-Palmolive Company (CL) (Consumer Defensive) with a 1Y correlation of -0.31, down from -0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Colgate-Palmolive Company | -0.31 | -0.18 | -0.05 | 61 | Consumer Defensive | |
| Chubb Limited | -0.31 | -0.09 | 0.07 | 87 | Financial Services | |
| The Allstate Corporation | -0.29 | -0.05 | 0.09 | 80 | Financial Services | |
| The Coca-Cola Company | -0.28 | -0.17 | -0.01 | 86 | Consumer Defensive | |
| Altria Group, Inc. | -0.27 | -0.14 | 0.02 | 63 | Consumer Defensive |
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