Looking to balance out your exposure to AMZN? The ETFs below have the lowest correlation with AMZN — they tend to move on their own, which can help reduce risk when AMZN drops. The stock ideas table highlights individual companies that behave independently from AMZN.
Best Diversifiers for AMZN
107 ETFs have low correlation with AMZN (below 0.3), 24 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) 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 |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.16 | -0.03 | 0.02 | 66 | Oil & Gas | AMZN vs USO | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.15 | -0.02 | 0.03 | 55 | Oil & Gas | AMZN vs OILK | |
| State Street Energy Select Sector SPDR ETF | -0.14 | 0.01 | 0.09 | 63 | Energy Equities | AMZN vs XLE | |
| ProShares Ultra Oil & Gas | -0.14 | 0.00 | 0.10 | 61 | Leveraged Equities | AMZN vs DIG | |
| iShares 0-3 Month Treasury Bond ETF | -0.13 | -0.01 | 0.01 | 100 | Ultrashort Bond | AMZN vs SGOV |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMZN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMZN and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.25, down from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.25 | -0.17 | -0.04 | 53 | Utilities | |
| Pembina Pipeline Corporation | -0.22 | 0.05 | 0.17 | 82 | Energy | |
| Ventas, Inc. | -0.20 | -0.04 | 0.12 | 80 | Real Estate | |
| Altria Group, Inc. | -0.19 | -0.09 | -0.01 | 69 | Consumer Defensive | |
| Equinor ASA | -0.19 | -0.03 | 0.01 | 82 | Energy |
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