Looking to balance out your exposure to AMGN? The ETFs below have historically moved differently from AMGN, 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 AMGN
30 ETFs have low correlation with AMGN (below 0.3), 2 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.08, roughly unchanged from -0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.08 | 0.00 | -0.01 | 100 | Ultrashort Bond | AMGN vs SGOV | |
| State Street Energy Select Sector SPDR ETF | -0.07 | 0.12 | 0.15 | 69 | Energy Equities | AMGN vs XLE | |
| ProShares Ultra Semiconductors | 0.00 | 0.07 | 0.12 | 56 | Leveraged Equities, Semiconductors | AMGN vs USD | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.02 | -0.00 | -0.02 | 100 | Government Bonds, Ultrashort Bond | AMGN vs BIL | |
| State Street Technology Select Sector SPDR ETF | 0.04 | 0.14 | 0.19 | 61 | Technology Equities | AMGN vs XLK |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AMGN, 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 Valero Energy Corporation (VLO) (Energy) with a 1Y correlation of -0.14, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Valero Energy Corporation | -0.14 | 0.08 | 0.10 | 98 | Energy | |
| Apache Corporation | -0.12 | 0.05 | 0.08 | 89 | Energy | |
| CF Industries Holdings, Inc. | -0.12 | 0.04 | 0.07 | 64 | Basic Materials | |
| Devon Energy Corporation | -0.11 | 0.05 | 0.09 | 76 | Energy | |
| ConocoPhillips Company | -0.11 | 0.06 | 0.12 | 71 | Energy |
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