Looking to diversify beyond AMZA? The ETFs below have the lowest correlation with AMZA — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from AMZA.
Best Diversifiers for AMZA
1971 ETFs have low correlation with AMZA (below 0.3), 1293 of which are negatively correlated. The least correlated is Direxion Daily MU Bull 2X Shares (MUU) (Leveraged Equities) with a 1Y correlation of -0.28, roughly unchanged from -0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | -0.28 | -0.28 | -0.28 | 99 | Leveraged Equities, Semiconductors | AMZA vs MUU | |
| Invesco BulletShares 2034 Municipal Bond ETF | -0.24 | — | — | 74 | Municipal Bonds | AMZA vs BSMY | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | -0.23 | -0.02 | -0.00 | 84 | Municipal Bonds | AMZA vs RVNU | |
| Eaton Vance Intermediate Municipal Income ETF | -0.22 | — | — | 79 | Municipal Bonds | AMZA vs EVIM | |
| ALPS Intermediate Municipal Bond ETF | -0.21 | -0.00 | 0.01 | 76 | Municipal Bonds | AMZA vs MNBD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMZA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMZA and solid risk/return profiles. The least correlated is Micron Technology, Inc. (MU) (Technology) with a 1Y correlation of -0.12, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Micron Technology, Inc. | -0.12 | 0.10 | 0.20 | 99 | Technology | |
| BlackRock Science and Technology Term Trust | -0.12 | 0.16 | 0.28 | 93 | Financial Services | |
| NVIDIA Corporation | -0.10 | 0.10 | 0.20 | 69 | Technology | |
| Sprott Physical Gold Trust | -0.06 | 0.08 | 0.13 | 65 | Financial Services | |
| Advanced Micro Devices, Inc. | -0.06 | 0.10 | 0.20 | 97 | Technology |
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