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
7 ETFs have low correlation with ASA (below 0.3), 2 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.03, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.03 | -0.00 | 0.02 | 100 | Ultrashort Bond | ASA vs SGOV | |
| Breakwave Tanker Shipping ETF | -0.02 | 0.06 | — | 98 | Commodities | ASA vs BWET | |
| VanEck Commodity Strategy ETF | 0.20 | 0.31 | — | 57 | Commodities | ASA vs PIT | |
| Direxion Daily GOOGL Bull 2X Shares | 0.24 | 0.13 | — | 94 | Leveraged Equities | ASA vs GGLL | |
| Invesco Semiconductors ETF | 0.27 | 0.19 | 0.20 | 96 | Semiconductors, Technology Equities | ASA vs PSI |
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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 Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of 0.06, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | 0.06 | 0.07 | 0.08 | 96 | Healthcare | |
| Progyny, Inc. | 0.09 | 0.14 | 0.15 | 59 | Healthcare | |
| British American Tobacco p.l.c. | 0.09 | 0.20 | 0.22 | 77 | Consumer Defensive | |
| AxoGen, Inc. | 0.13 | 0.15 | 0.11 | 99 | Healthcare | |
| RTX Corporation | 0.16 | 0.12 | 0.18 | 73 | Industrials |
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