Looking to diversify beyond AMZW? The ETFs below have the lowest correlation with AMZW — 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 AMZW.
Best Diversifiers for AMZW
640 ETFs have low correlation with AMZW (below 0.3), 60 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily NFLX Bear 1X Shares | -0.29 | — | — | 63 | Inverse Equities | AMZW vs NFXS | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.28 | -0.28 | -0.28 | 51 | Derivative Income | AMZW vs WNTR | |
| Tortoise North American Pipeline Fund | -0.19 | — | — | 60 | Energy Equities | AMZW vs TPYP | |
| VanEck Energy Income ETF | -0.18 | — | — | 62 | Energy Equities | AMZW vs EINC | |
| USCF Midstream Energy Income Fund ETF | -0.17 | — | — | 60 | Energy Equities | AMZW vs UMI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMZW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMZW and solid risk/return profiles. The least correlated is Howmet Aerospace Inc. (HWM) (Industrials) with a 1Y correlation of 0.19, roughly unchanged from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Howmet Aerospace Inc. | 0.19 | 0.19 | 0.19 | 86 | Industrials | |
| Sterling Infrastructure, Inc. | 0.25 | 0.25 | 0.25 | 96 | Industrials | |
| Tesla, Inc. | 0.30 | 0.30 | 0.30 | 50 | Consumer Cyclical | |
| NVIDIA Corporation | 0.36 | 0.36 | 0.36 | 70 | Technology | |
| Amazon.com, Inc | 0.99 | — | — | 52 | Consumer Cyclical |
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