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
25 ETFs have low correlation with AZN (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.16, 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 | -0.16 | -0.02 | -0.00 | 100 | Ultrashort Bond | AZN vs SGOV | |
| Vanguard Information Technology ETF | 0.07 | 0.12 | 0.17 | 76 | Technology Equities | AZN vs VGT | |
| iShares 0-5 Year TIPS Bond ETF | 0.10 | 0.10 | 0.10 | 93 | Inflation-Protected Bonds | AZN vs STIP | |
| Vanguard Short-Term Inflation-Protected Securities... | 0.10 | 0.10 | 0.10 | 93 | Inflation-Protected Bonds | AZN vs VTIP | |
| Invesco BulletShares 2027 Municipal Bond ETF | 0.12 | 0.14 | 0.08 | 94 | Municipal Bonds | AZN vs BSMR |
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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 AppLovin Corporation (APP) (Technology) with a 1Y correlation of -0.09, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AppLovin Corporation | -0.09 | -0.01 | 0.06 | 59 | Technology | |
| CrowdStrike Holdings, Inc. | -0.08 | 0.03 | 0.08 | 70 | Technology | |
| Credo Technology Group Holding Ltd | -0.06 | 0.02 | 0.09 | 85 | Technology | |
| ConocoPhillips Company | -0.06 | 0.03 | 0.09 | 76 | Energy | |
| Exxon Mobil Corporation | -0.04 | 0.03 | 0.09 | 85 | Energy |
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