Looking to balance out your exposure to WKEY? The ETFs below have the lowest correlation with WKEY — they tend to move on their own, which can help reduce risk when WKEY drops. The stock ideas table highlights individual companies that behave independently from WKEY.
Best Diversifiers for WKEY
0 ETFs have low correlation with WKEY (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.50, up from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.50 | 0.32 | 0.32 | 70 | S&P 500 | WKEY vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WKEY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WKEY and solid risk/return profiles. The least correlated is Celestica Inc. (CLS) (Technology) with a 1Y correlation of 0.33, roughly unchanged from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Celestica Inc. | 0.33 | 0.19 | 0.23 | 94 | Technology | |
| Arista Networks, Inc. | 0.35 | 0.22 | 0.23 | 79 | Technology | |
| Jabil Inc. | 0.38 | 0.23 | 0.26 | 92 | Technology | |
| Flex Ltd. | 0.39 | 0.23 | 0.25 | 98 | Technology | |
| Vertiv Holdings Co. | 0.39 | 0.22 | 0.24 | 94 | Industrials |
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