Looking to balance out your exposure to AZN? The ETFs below have the lowest correlation with AZN — they tend to move on their own, which can help reduce risk when AZN drops. The stock ideas table highlights individual companies that behave independently from AZN.
Best Diversifiers for AZN
36 ETFs have low correlation with AZN (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 -0.13, down from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.13 | -0.02 | 0.00 | 100 | Ultrashort Bond | AZN vs SGOV | |
| Vanguard Information Technology ETF | -0.01 | 0.07 | 0.14 | 50 | Technology Equities | AZN vs VGT | |
| Invesco NASDAQ 100 ETF | 0.04 | 0.10 | 0.16 | 54 | Nasdaq-100 | AZN vs QQQM | |
| Invesco QQQ ETF | 0.05 | 0.11 | 0.16 | 53 | Nasdaq-100 | AZN vs QQQ | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.08 | 0.11 | — | 60 | Nasdaq-100, Derivative Income | AZN vs JEPQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AZN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AZN and solid risk/return profiles. The least correlated is CF Industries Holdings, Inc. (CF) (Basic Materials) with a 1Y correlation of -0.17, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CF Industries Holdings, Inc. | -0.17 | -0.00 | 0.04 | 67 | Basic Materials | |
| AppLovin Corporation | -0.13 | -0.03 | 0.04 | 56 | Communication Services | |
| ConocoPhillips Company | -0.10 | 0.01 | 0.08 | 69 | Energy | |
| CrowdStrike Holdings, Inc. | -0.09 | 0.00 | 0.07 | 81 | Technology | |
| Liberty Oilfield Services Inc. | -0.08 | 0.01 | 0.05 | 89 | Energy |
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