Looking to balance out your exposure to AAOI? The ETFs below have historically moved differently from AAOI, 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 AAOI
6 ETFs have low correlation with AAOI (below 0.3), 3 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.12, roughly unchanged from -0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.12 | -0.09 | -0.02 | 100 | Government Bonds, Ultrashort Bond | AAOI vs BIL | |
| iShares 0-1 Year Treasury Bond ETF | -0.05 | -0.02 | -0.00 | 100 | Government Bonds, Ultrashort Bond | AAOI vs SHV | |
| Invesco DB Energy Fund | -0.00 | 0.03 | 0.06 | 66 | Oil & Gas | AAOI vs DBE | |
| Breakwave Tanker Shipping ETF | 0.12 | 0.04 | — | 99 | Commodities | AAOI vs BWET | |
| ProShares High Yield-Interest Rate Hedged | 0.18 | 0.26 | 0.29 | 71 | High Yield Bonds | AAOI vs HYHG |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AAOI, 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 Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.23, roughly unchanged from -0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.23 | -0.18 | -0.13 | 56 | Utilities | |
| Berkshire Hathaway Inc. | -0.17 | 0.03 | 0.09 | 61 | Financial Services | |
| Cboe Global Markets, Inc. | -0.17 | -0.18 | -0.09 | 62 | Financial Services | |
| The Coca-Cola Company | -0.16 | -0.14 | -0.10 | 87 | Consumer Defensive | |
| Walmart Inc. | -0.13 | -0.02 | 0.01 | 60 | Consumer Defensive |
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