Looking to balance out your exposure to AMWD? The ETFs below have the lowest correlation with AMWD — they tend to move on their own, which can help reduce risk when AMWD drops. The stock ideas table highlights individual companies that behave independently from AMWD.
Best Diversifiers for AMWD
0 ETFs have low correlation with AMWD (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.38, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.38 | 0.46 | 0.53 | 74 | S&P 500 | AMWD vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMWD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMWD and solid risk/return profiles. The least correlated is Marathon Petroleum Corporation (MPC) (Energy) with a 1Y correlation of 0.00, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Marathon Petroleum Corporation | 0.00 | 0.20 | 0.24 | 88 | Energy | |
| Frontline Ltd. | 0.04 | 0.07 | 0.12 | 89 | Energy | |
| Teekay Tankers Ltd. | 0.04 | 0.09 | 0.12 | 80 | Energy | |
| ASE Technology Holding Co., Ltd. | 0.16 | 0.26 | 0.30 | 99 | Technology | |
| Costamare Inc. | 0.18 | 0.20 | 0.25 | 91 | Industrials |
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