Looking to balance out your exposure to AMN? The ETFs below have the lowest correlation with AMN — they tend to move on their own, which can help reduce risk when AMN drops. The stock ideas table highlights individual companies that behave independently from AMN.
Best Diversifiers for AMN
3 ETFs have low correlation with AMN (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.18, roughly unchanged from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.18 | 0.15 | 0.23 | 73 | Nasdaq-100 | AMN vs QQQ | |
| Vanguard Information Technology ETF | 0.19 | 0.16 | 0.24 | 76 | Technology Equities | AMN vs VGT | |
| Vanguard S&P 500 ETF | 0.22 | 0.22 | 0.29 | 70 | S&P 500 | AMN vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMN and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of 0.07, roughly unchanged from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | 0.07 | 0.14 | 0.15 | 85 | Energy | |
| Eli Lilly and Company | 0.07 | 0.07 | 0.12 | 72 | Healthcare | |
| AbbVie Inc. | 0.14 | 0.16 | 0.17 | 62 | Healthcare | |
| PureCycle Technologies, Inc. | 0.15 | 0.19 | 0.16 | 56 | Industrials | |
| Illumina, Inc. | 0.25 | 0.30 | 0.29 | 88 | Healthcare |
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