Looking to balance out your exposure to WTKWY? The ETFs below have historically moved differently from WTKWY, 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 WTKWY
4 ETFs have low correlation with WTKWY (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes Short Duration High Yield ETF (FHYS) (High Yield Bonds) with a 1Y correlation of 0.07, roughly unchanged from 0.17 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes Short Duration High Yield ETF | 0.07 | 0.17 | — | 84 | High Yield Bonds | WTKWY vs FHYS | |
| iShares 1-5 Year Investment Grade Corporate Bond E... | 0.14 | 0.16 | 0.23 | 82 | Corporate Bonds, Investment Grade Bonds | WTKWY vs IGSB | |
| Vanguard S&P 500 ETF | 0.16 | 0.26 | 0.35 | 68 | S&P 500 | WTKWY vs VOO | |
| iShares 1-3 Year Treasury Bond ETF | 0.16 | 0.12 | 0.16 | 90 | Government Bonds, Short-Term Bond | WTKWY vs SHY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for WTKWY, 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 Caterpillar Inc. (CAT) (Industrials) with a 1Y correlation of -0.11, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Caterpillar Inc. | -0.11 | 0.04 | 0.07 | 92 | Industrials | |
| KLA Corporation | -0.07 | 0.09 | 0.18 | 87 | Technology | |
| Franco-Nevada Corporation | -0.04 | 0.11 | 0.17 | 70 | Basic Materials | |
| Johnson & Johnson | -0.02 | 0.02 | 0.13 | 97 | Healthcare | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.01 | 0.13 | 0.18 | 87 | Technology |
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