Looking to balance out your exposure to ASA? The ETFs below have the lowest correlation with ASA — they tend to move on their own, which can help reduce risk when ASA drops. The stock ideas table highlights individual companies that behave independently from ASA.
Best Diversifiers for ASA
9 ETFs have low correlation with ASA (below 0.3), 2 of which are negatively correlated. The least correlated is Breakwave Tanker Shipping ETF (BWET) (Commodities) with a 1Y correlation of -0.02, roughly unchanged from 0.06 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Breakwave Tanker Shipping ETF | -0.02 | 0.06 | — | 99 | Commodities | ASA vs BWET | |
| iShares 0-3 Month Treasury Bond ETF | -0.01 | -0.00 | 0.03 | 100 | Ultrashort Bond | ASA vs SGOV | |
| iShares S&P GSCI Commodity-Indexed Trust | 0.00 | 0.16 | 0.23 | 71 | Commodities | ASA vs GSG | |
| Direxion Daily GOOGL Bull 2X Shares | 0.18 | 0.12 | — | 94 | Leveraged Equities | ASA vs GGLL | |
| Direxion Daily MU Bull 2X Shares | 0.18 | — | — | 99 | Leveraged Equities | ASA vs MUU |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ASA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ASA and solid risk/return profiles. The least correlated is British American Tobacco p.l.c. (BTI) (Consumer Defensive) with a 1Y correlation of 0.10, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| British American Tobacco p.l.c. | 0.10 | 0.22 | 0.23 | 77 | Consumer Defensive | |
| Johnson & Johnson | 0.12 | 0.08 | 0.10 | 92 | Healthcare | |
| AxoGen, Inc. | 0.13 | 0.14 | 0.11 | 98 | Healthcare | |
| NVIDIA Corporation | 0.14 | 0.09 | 0.13 | 78 | Technology | |
| Kenon Holdings Ltd. | 0.15 | 0.13 | 0.17 | 95 | Utilities |
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