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
123 ETFs have low correlation with AMZN (below 0.3), 23 of which are negatively correlated. The least correlated is Global X MLP & Energy Infrastructure ETF (MLPX) (MLPs) with a 1Y correlation of -0.16, 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 | -0.16 | 0.06 | 0.19 | 72 | MLPs | AMZN vs MLPX | |
| State Street Energy Select Sector SPDR ETF | -0.16 | -0.00 | 0.09 | 50 | Energy Equities | AMZN vs XLE | |
| Vanguard Energy ETF | -0.15 | 0.00 | 0.11 | 51 | Energy Equities | AMZN vs VDE | |
| Invesco DB US Dollar Index Bullish Fund | -0.15 | -0.09 | -0.17 | 51 | Currency | AMZN vs UUP | |
| Fidelity MSCI Energy Index ETF | -0.15 | 0.00 | 0.08 | 51 | Energy Equities | AMZN vs FENY |
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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 -0.29, down from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.29 | -0.21 | -0.06 | 70 | Utilities | |
| Duke Energy Corporation | -0.23 | -0.16 | -0.03 | 66 | Utilities | |
| Waste Management, Inc. | -0.23 | -0.07 | 0.07 | 53 | Industrials | |
| ONEOK, Inc. | -0.22 | 0.02 | 0.17 | 65 | Energy | |
| Verizon Communications Inc. | -0.21 | -0.14 | -0.02 | 57 | Communication Services |
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