Looking to balance out your exposure to AAOI? The ETFs below have the lowest correlation with AAOI — they tend to move on their own, which can help reduce risk when AAOI drops. The stock ideas table highlights individual companies that behave independently from AAOI.
Best Diversifiers for AAOI
6 ETFs have low correlation with AAOI (below 0.3), 3 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.06, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.06 | 0.03 | 0.06 | 71 | Oil & Gas | AAOI vs DBE | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.05 | -0.06 | 0.00 | 100 | Government Bonds, Ultrashort Bond | AAOI vs BIL | |
| iShares 0-1 Year Treasury Bond ETF | -0.02 | -0.02 | 0.01 | 100 | Government Bonds, Ultrashort Bond | AAOI vs SHV | |
| Breakwave Tanker Shipping ETF | 0.04 | 0.02 | — | 99 | Commodities | AAOI vs BWET | |
| Direxion Daily GOOGL Bull 2X Shares | 0.22 | 0.24 | — | 94 | Leveraged Equities | AAOI vs GGLL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AAOI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AAOI and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.16, roughly unchanged from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.16 | -0.16 | -0.06 | 68 | Financial Services | |
| Walmart Inc. | -0.09 | 0.01 | 0.03 | 63 | Consumer Defensive | |
| The Coca-Cola Company | -0.08 | -0.10 | -0.07 | 66 | Consumer Defensive | |
| Johnson & Johnson | -0.06 | -0.09 | -0.06 | 92 | Healthcare | |
| Monster Beverage Corporation | -0.02 | 0.02 | 0.07 | 79 | Consumer Defensive |
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