Looking to balance out your exposure to AME? The ETFs below have the lowest correlation with AME — they tend to move on their own, which can help reduce risk when AME drops. The stock ideas table highlights individual companies that behave independently from AME.
Best Diversifiers for AME
0 ETFs have low correlation with AME (below 0.3), 0 of which are negatively correlated. The least correlated is SPDR S&P Metals & Mining ETF (XME) (Materials) with a 1Y correlation of 0.42, roughly unchanged from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR S&P Metals & Mining ETF | 0.42 | 0.39 | 0.44 | 53 | Materials | AME vs XME | |
| Invesco QQQ ETF | 0.43 | 0.48 | 0.55 | 59 | Nasdaq-100 | AME vs QQQ | |
| iShares Semiconductor ETF | 0.47 | 0.48 | 0.53 | 95 | Semiconductors, Technology Equities | AME vs SOXX | |
| State Street SPDR S&P 500 ETF | 0.54 | 0.58 | 0.66 | 60 | S&P 500 | AME vs SPY | |
| Industrial Select Sector SPDR Fund | 0.79 | 0.76 | 0.79 | 50 | Industrials Equities | AME vs XLI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AME, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AME and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.10, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.10 | 0.06 | 0.19 | 70 | Energy | |
| Imperial Oil Limited | 0.00 | 0.14 | 0.22 | 82 | Energy | |
| The Hershey Company | 0.05 | 0.12 | 0.20 | 51 | Consumer Defensive | |
| PepsiCo, Inc. | 0.05 | 0.14 | 0.27 | 59 | Consumer Defensive | |
| CrowdStrike Holdings, Inc. | 0.07 | 0.26 | 0.30 | 66 | Technology |
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