Looking to balance out your exposure to ASOZY? The ETFs below have the lowest correlation with ASOZY — they tend to move on their own, which can help reduce risk when ASOZY drops. The stock ideas table highlights individual companies that behave independently from ASOZY.
Best Diversifiers for ASOZY
3 ETFs have low correlation with ASOZY (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.09, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.09 | 0.03 | 0.01 | 74 | S&P 500 | ASOZY vs SPY | |
| ProShares UltraPro S&P 500 | 0.09 | 0.03 | 0.01 | 66 | Leveraged Equities, S&P 500 | ASOZY vs UPRO | |
| ProShares UltraPro QQQ | 0.10 | 0.03 | 0.01 | 71 | Leveraged Equities | ASOZY vs TQQQ |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from ASOZY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to ASOZY and solid risk/return profiles. The least correlated is The Ensign Group, Inc. (ENSG) (Healthcare) with a 1Y correlation of -0.05, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Ensign Group, Inc. | -0.05 | -0.06 | -0.03 | 51 | Healthcare | |
| Magyar Telekom Plc | -0.02 | 0.01 | 0.01 | 69 | Communication Services | |
| Singapore Technologies Engineering Ltd ADR | 0.01 | 0.03 | 0.01 | 76 | Industrials | |
| Elbit Systems Ltd | 0.01 | 0.02 | 0.00 | 88 | Industrials | |
| Coca-Cola Consolidated, Inc. | 0.06 | 0.03 | 0.00 | 81 | Consumer Defensive |
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