Looking to balance out your exposure to WMG? The ETFs below have the lowest correlation with WMG — they tend to move on their own, which can help reduce risk when WMG drops. The stock ideas table highlights individual companies that behave independently from WMG.
Best Diversifiers for WMG
3 ETFs have low correlation with WMG (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 0.24, down from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.24 | 0.28 | 0.38 | 70 | S&P 500 | WMG vs SPY | |
| Vanguard Total World Stock ETF | 0.25 | 0.31 | 0.40 | 67 | Global Equities | WMG vs VT | |
| Schwab U.S. Dividend Equity ETF | 0.30 | 0.29 | 0.33 | 80 | Dividend | WMG vs SCHD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WMG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WMG and solid risk/return profiles. The least correlated is Monster Beverage Corporation (MNST) (Consumer Defensive) with a 1Y correlation of 0.08, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Monster Beverage Corporation | 0.08 | 0.12 | 0.19 | 79 | Consumer Defensive | |
| NVIDIA Corporation | 0.08 | 0.14 | 0.28 | 78 | Technology | |
| Apple Inc | 0.10 | 0.19 | 0.27 | 89 | Technology | |
| Amazon.com, Inc | 0.13 | 0.15 | 0.27 | 60 | Consumer Cyclical | |
| Live Nation Entertainment, Inc. | 0.23 | 0.22 | 0.34 | 57 | Communication Services |
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