Looking to balance out your exposure to ASM? The ETFs below have the lowest correlation with ASM — they tend to move on their own, which can help reduce risk when ASM drops. The stock ideas table highlights individual companies that behave independently from ASM.
Best Diversifiers for ASM
1 ETFs have low correlation with ASM (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.17, roughly unchanged from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.17 | 0.18 | 0.21 | 83 | Dividend | ASM vs SCHD | |
| Vanguard Information Technology ETF | 0.38 | 0.28 | 0.27 | 61 | Technology Equities | ASM vs VGT | |
| Invesco QQQ ETF | 0.41 | 0.28 | 0.27 | 64 | Nasdaq-100 | ASM vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.43 | 0.32 | 0.30 | 67 | S&P 500 | ASM vs SPY | |
| State Street SPDR Portfolio S&P 500 ETF | 0.44 | 0.32 | 0.30 | 68 | S&P 500 | ASM vs SPYM |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ASM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ASM and solid risk/return profiles. The least correlated is Vista Oil & Gas, S.A.B. de C.V. (VIST) (Energy) with a 1Y correlation of -0.14, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Vista Oil & Gas, S.A.B. de C.V. | -0.14 | 0.09 | 0.19 | 67 | Energy | |
| The Allstate Corporation | -0.09 | 0.03 | 0.07 | 82 | Financial Services | |
| Coca-Cola Consolidated, Inc. | -0.05 | 0.00 | 0.03 | 83 | Consumer Defensive | |
| Cardinal Health, Inc. | -0.00 | 0.04 | 0.08 | 85 | Healthcare | |
| Eli Lilly and Company | 0.06 | 0.08 | 0.07 | 80 | Healthcare |
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