Looking to balance out your exposure to AM? The ETFs below have historically moved differently from AM, 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 AM
6 ETFs have low correlation with AM (below 0.3), 5 of which are negatively correlated. The least correlated is State Street SPDR Portfolio S&P 500 ETF (SPYM) (S&P 500) with a 1Y correlation of -0.07, down from 0.39 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR Portfolio S&P 500 ETF | -0.07 | 0.24 | 0.39 | 72 | S&P 500 | AM vs SPYM | |
| Vanguard Information Technology ETF | -0.06 | 0.16 | 0.29 | 57 | Technology Equities | AM vs VGT | |
| State Street SPDR S&P 500 ETF | -0.06 | 0.24 | 0.39 | 71 | S&P 500 | AM vs SPY | |
| Simplify Health Care ETF | -0.04 | 0.15 | — | 66 | Health & Biotech Equities | AM vs PINK | |
| Global X S&P 500 Covered Call ETF | -0.02 | 0.23 | 0.36 | 92 | Derivative Income, S&P 500 | AM vs XYLD |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AM, 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 Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of -0.15, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.15 | 0.07 | 0.20 | 68 | Consumer Cyclical | |
| Nuveen AMT-Free Quality Municipal Income Fund | -0.07 | 0.08 | 0.11 | 74 | Financial Services | |
| BlackRock Health Sciences Trust II | -0.04 | 0.15 | 0.27 | 81 | Financial Services | |
| Nokia Corporation | -0.04 | 0.08 | 0.23 | 90 | Technology | |
| Eldorado Gold Corporation | -0.03 | 0.11 | 0.21 | 70 | Basic Materials |
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