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
88 ETFs have low correlation with AMZN (below 0.3), 10 of which are negatively correlated. The least correlated is Global X MLP & Energy Infrastructure ETF (MLPX) (MLPs) with a 1Y correlation of -0.14, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X MLP & Energy Infrastructure ETF | -0.14 | 0.07 | 0.19 | 55 | MLPs | AMZN vs MLPX | |
| iShares Core High Dividend ETF | -0.12 | 0.02 | 0.18 | 70 | Dividend, Large Cap Value Equities | AMZN vs HDV | |
| iShares 0-3 Month Treasury Bond ETF | -0.11 | -0.01 | 0.02 | 100 | Ultrashort Bond | AMZN vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.09 | -0.03 | -0.00 | 100 | Government Bonds, Ultrashort Bond | AMZN vs BIL | |
| WisdomTree Floating Rate Treasury Fund | -0.08 | 0.02 | 0.02 | 100 | Government Bonds, Ultrashort Bond | AMZN vs USFR |
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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 Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.32, down from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.32 | -0.22 | -0.07 | 61 | Utilities | |
| Duke Energy Corporation | -0.24 | -0.16 | -0.04 | 62 | Utilities | |
| Ventas, Inc. | -0.22 | -0.03 | 0.12 | 87 | Real Estate | |
| Verizon Communications Inc. | -0.21 | -0.14 | -0.02 | 66 | Communication Services | |
| ONEOK, Inc. | -0.20 | 0.03 | 0.17 | 59 | Energy |
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