Looking to balance out your exposure to AZO? The ETFs below have the lowest correlation with AZO — they tend to move on their own, which can help reduce risk when AZO drops. The stock ideas table highlights individual companies that behave independently from AZO.
Best Diversifiers for AZO
283 ETFs have low correlation with AZO (below 0.3), 54 of which are negatively correlated. The least correlated is ProShares Ultra Bloomberg Crude Oil (UCO) (Leveraged Commodities) with a 1Y correlation of -0.13, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Bloomberg Crude Oil | -0.13 | -0.09 | -0.02 | 54 | Leveraged Commodities | AZO vs UCO | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.12 | -0.08 | -0.01 | 76 | Commodities | AZO vs PDBC | |
| Xtrackers Semiconductor Select Equity ETF | -0.11 | 0.02 | 0.02 | 97 | Semiconductors, Technology Equities | AZO vs CHPS | |
| iShares Semiconductor ETF | -0.11 | 0.04 | 0.14 | 96 | Semiconductors, Technology Equities | AZO vs SOXX | |
| Direxion Daily Semiconductor Bull 3X ETF | -0.11 | 0.04 | 0.14 | 97 | Leveraged Equities, Semiconductors | AZO vs SOXL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AZO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AZO and solid risk/return profiles. The least correlated is AST SpaceMobile, Inc. (ASTS) (Communication Services) with a 1Y correlation of -0.16, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AST SpaceMobile, Inc. | -0.16 | -0.03 | 0.02 | 89 | Communication Services | |
| Rocket Lab USA, Inc. | -0.15 | 0.01 | 0.05 | 94 | Industrials | |
| Apache Corporation | -0.13 | 0.01 | 0.07 | 91 | Energy | |
| ConocoPhillips Company | -0.12 | -0.00 | 0.06 | 78 | Energy | |
| Advanced Micro Devices, Inc. | -0.12 | 0.03 | 0.12 | 97 | Technology |
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Build a portfolio that complements AZO
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