Looking to diversify beyond AMZP? The ETFs below have historically moved differently from AMZP, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for AMZP
808 ETFs have low correlation with AMZP (below 0.3), 124 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.33 | — | — | 61 | Cryptocurrency | AMZP vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.33 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | AMZP vs SBIT | |
| Defiance Daily Target 2X Short MSTR ETF | -0.33 | — | — | 52 | Inverse Equities | AMZP vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.32 | — | — | 61 | Inverse Equities, Leveraged Equities | AMZP vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.32 | — | — | 75 | Derivative Income | AMZP vs WNTR |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AMZP, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Verizon Communications Inc. (VZ) (Communication Services) with a 1Y correlation of -0.20, roughly unchanged from -0.18 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Verizon Communications Inc. | -0.20 | -0.18 | -0.18 | 66 | Communication Services | |
| NextEra Energy, Inc. | -0.01 | 0.02 | 0.02 | 77 | Utilities | |
| Laboratory Corporation of America Holdings | 0.03 | 0.10 | 0.10 | 69 | Healthcare | |
| Berkshire Hathaway Inc. | 0.04 | 0.12 | 0.12 | 61 | Financial Services | |
| Eli Lilly and Company | 0.05 | 0.18 | 0.18 | 83 | Healthcare |
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