Looking to balance out your exposure to WGS? The ETFs below have historically moved differently from WGS, 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 WGS
4 ETFs have low correlation with WGS (below 0.3), 1 of which are negatively correlated. The least correlated is Invesco DB Oil Fund (DBO) (Oil & Gas) with a 1Y correlation of -0.20, down from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Oil Fund | -0.20 | -0.00 | 0.03 | 58 | Oil & Gas | WGS vs DBO | |
| GraniteShares 2x Long AMD Daily ETF | 0.09 | — | — | 86 | Leveraged Equities | WGS vs AMDL | |
| State Street SPDR S&P 500 ETF | 0.30 | 0.29 | 0.35 | 67 | S&P 500 | WGS vs SPY | |
| ProShares UltraPro S&P 500 | 0.30 | 0.28 | 0.35 | 50 | Leveraged Equities, S&P 500 | WGS vs UPRO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for WGS, 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 Evergy, Inc. (EVRG) (Utilities) with a 1Y correlation of -0.08, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Evergy, Inc. | -0.08 | 0.03 | 0.07 | 81 | Utilities | |
| New Oriental Education & Technology Group Inc. | -0.00 | 0.02 | 0.09 | 72 | Consumer Defensive | |
| Powell Industries, Inc. | 0.01 | 0.15 | 0.16 | 93 | Industrials | |
| Covista Inc. | 0.02 | 0.10 | 0.15 | 51 | Consumer Defensive | |
| TAL Education Group | 0.05 | 0.08 | 0.13 | 56 | Consumer Defensive |
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