Looking to balance out your exposure to AZZ? The ETFs below have the lowest correlation with AZZ — they tend to move on their own, which can help reduce risk when AZZ drops. The stock ideas table highlights individual companies that behave independently from AZZ.
Best Diversifiers for AZZ
0 ETFs have low correlation with AZZ (below 0.3), 0 of which are negatively correlated. The least correlated is Roundhill Generative AI & Technology ETF (CHAT) (Technology Equities) with a 1Y correlation of 0.32, roughly unchanged from 0.41 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Roundhill Generative AI & Technology ETF | 0.32 | 0.41 | — | 74 | Technology Equities | AZZ vs CHAT | |
| Global X US Infrastructure Development ETF | 0.72 | 0.69 | 0.70 | 53 | Industrials Equities | AZZ vs PAVE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AZZ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AZZ and solid risk/return profiles. The least correlated is California Resources Corporation (CRC) (Energy) with a 1Y correlation of -0.01, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| California Resources Corporation | -0.01 | 0.22 | 0.30 | 56 | Energy | |
| Incyte Corporation | 0.11 | 0.17 | 0.19 | 90 | Healthcare | |
| Targa Resources Corp. | 0.11 | 0.25 | 0.36 | 94 | Energy | |
| HCA Healthcare, Inc. | 0.15 | 0.21 | 0.29 | 50 | Healthcare | |
| Tenet Healthcare Corporation | 0.17 | 0.28 | 0.35 | 56 | Healthcare |
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