Looking to balance out your exposure to AMRX? The ETFs below have the lowest correlation with AMRX — they tend to move on their own, which can help reduce risk when AMRX drops. The stock ideas table highlights individual companies that behave independently from AMRX.
Best Diversifiers for AMRX
2 ETFs have low correlation with AMRX (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.16, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.16 | -0.07 | -0.02 | 100 | Ultrashort Bond | AMRX vs SGOV | |
| State Street SPDR S&P 500 ETF | 0.27 | 0.37 | 0.39 | 65 | S&P 500 | AMRX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMRX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMRX and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.08, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.08 | -0.04 | 0.07 | 60 | Financial Services | |
| Altria Group, Inc. | -0.08 | 0.04 | 0.09 | 80 | Consumer Defensive | |
| F5 Networks, Inc. | 0.03 | 0.18 | 0.24 | 71 | Technology | |
| Verizon Communications Inc. | 0.03 | 0.06 | 0.09 | 61 | Communication Services | |
| Duke Energy Corporation | 0.03 | 0.06 | 0.06 | 64 | Utilities |
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