Looking to balance out your exposure to ASM? The ETFs below have historically moved differently from ASM, 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 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 0.14, roughly unchanged from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.14 | 0.17 | 0.20 | 95 | Dividend | ASM vs SCHD | |
| Vanguard Information Technology ETF | 0.43 | 0.29 | 0.28 | 52 | Technology Equities | ASM vs VGT | |
| State Street SPDR S&P 500 ETF | 0.46 | 0.32 | 0.30 | 67 | S&P 500 | ASM vs SPY | |
| State Street SPDR Portfolio S&P 500 ETF | 0.47 | 0.32 | 0.30 | 68 | S&P 500 | ASM vs SPYM |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for ASM, 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 The Allstate Corporation (ALL) (Financial Services) with a 1Y correlation of -0.15, down from 0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Allstate Corporation | -0.15 | 0.02 | 0.05 | 82 | Financial Services | |
| SM Energy Company | -0.12 | 0.08 | 0.16 | 58 | Energy | |
| Cencora Inc. | -0.05 | 0.00 | 0.05 | 53 | Healthcare | |
| Coca-Cola Consolidated, Inc. | -0.04 | 0.01 | 0.04 | 87 | Consumer Defensive | |
| Cardinal Health, Inc. | -0.03 | 0.03 | 0.07 | 86 | Healthcare |
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