Looking to balance out your exposure to WVE? The ETFs below have the lowest correlation with WVE — they tend to move on their own, which can help reduce risk when WVE drops. The stock ideas table highlights individual companies that behave independently from WVE.
Best Diversifiers for WVE
2 ETFs have low correlation with WVE (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 0.25, roughly unchanged from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.25 | 0.26 | 0.28 | 70 | S&P 500 | WVE vs SPY | |
| Vanguard S&P 500 ETF | 0.26 | 0.26 | 0.28 | 70 | S&P 500 | WVE vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from WVE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to WVE and solid risk/return profiles. The least correlated is Kenon Holdings Ltd. (KEN) (Utilities) with a 1Y correlation of 0.09, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kenon Holdings Ltd. | 0.09 | 0.13 | 0.16 | 95 | Utilities | |
| Oscar Health, Inc. | 0.09 | 0.13 | 0.16 | 59 | Healthcare | |
| Hycroft Mining Holding Corporation | 0.18 | 0.12 | 0.08 | 97 | Basic Materials | |
| Redwire Corporation | 0.23 | 0.24 | — | 51 | Industrials | |
| Bitdeer Technologies Group Class A Ordinary Shares | 0.27 | 0.25 | — | 58 | Technology |
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