Looking to balance out your exposure to AEM? The ETFs below have the lowest correlation with AEM — they tend to move on their own, which can help reduce risk when AEM drops. The stock ideas table highlights individual companies that behave independently from AEM.
Best Diversifiers for AEM
103 ETFs have low correlation with AEM (below 0.3), 10 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.09, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.09 | 0.06 | 0.16 | 59 | Energy Equities | AEM vs XLE | |
| Fidelity MSCI Energy Index ETF | -0.07 | 0.08 | 0.18 | 60 | Energy Equities | AEM vs FENY | |
| Vanguard Energy ETF | -0.07 | 0.08 | 0.17 | 60 | Energy Equities | AEM vs VDE | |
| Alerian MLP ETF | -0.06 | 0.15 | 0.23 | 56 | MLPs | AEM vs AMLP | |
| iShares Global Energy ETF | -0.05 | 0.11 | 0.21 | 65 | Energy Equities | AEM vs IXC |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AEM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AEM and solid risk/return profiles. The least correlated is Equinor ASA (EQNR) (Energy) with a 1Y correlation of -0.17, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinor ASA | -0.17 | 0.07 | 0.15 | 77 | Energy | |
| ConocoPhillips Company | -0.16 | -0.00 | 0.12 | 69 | Energy | |
| Permian Resources Corporation | -0.14 | 0.06 | 0.11 | 84 | Energy | |
| Chevron Corporation | -0.14 | 0.03 | 0.14 | 74 | Energy | |
| Exxon Mobil Corporation | -0.14 | 0.00 | 0.12 | 78 | Energy |
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