Looking to balance out your exposure to IMAX? The ETFs below have the lowest correlation with IMAX — they tend to move on their own, which can help reduce risk when IMAX drops. The stock ideas table highlights individual companies that behave independently from IMAX.
Best Diversifiers for IMAX
3 ETFs have low correlation with IMAX (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 0.20, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.20 | 0.19 | 0.35 | 70 | S&P 500 | IMAX vs SPY | |
| Vanguard S&P 500 ETF | 0.20 | 0.19 | 0.34 | 70 | S&P 500 | IMAX vs VOO | |
| Amplify CWP Enhanced Dividend Income ETF | 0.26 | 0.23 | 0.33 | 61 | Derivative Income | IMAX vs DIVO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from IMAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to IMAX and solid risk/return profiles. The least correlated is Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of 0.02, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | 0.02 | 0.15 | 0.25 | 85 | Energy | |
| Warrior Met Coal, Inc. | 0.05 | 0.07 | 0.15 | 90 | Basic Materials | |
| Antero Midstream Corporation | 0.06 | 0.17 | 0.28 | 65 | Energy | |
| Interactive Brokers Group, Inc. | 0.09 | 0.15 | 0.26 | 83 | Financial Services | |
| Western Midstream Partners, LP | 0.14 | 0.19 | 0.25 | 76 | Energy |
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