Looking to balance out your exposure to IMAX? The ETFs below have historically moved differently from IMAX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
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 0.08, down from 0.32 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.08 | 0.16 | 0.32 | 67 | S&P 500 | IMAX vs SPY | |
| Vanguard S&P 500 ETF | 0.08 | 0.16 | 0.32 | 68 | S&P 500 | IMAX vs VOO | |
| Amplify CWP Enhanced Dividend Income ETF | 0.19 | 0.22 | 0.31 | 81 | Derivative Income | IMAX vs DIVO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for IMAX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Warrior Met Coal, Inc. (HCC) (Basic Materials) with a 1Y correlation of -0.00, down from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Warrior Met Coal, Inc. | -0.00 | 0.06 | 0.13 | 76 | Basic Materials | |
| Nokia Corporation | 0.01 | 0.12 | 0.27 | 89 | Technology | |
| Antero Midstream Corporation | 0.05 | 0.15 | 0.25 | 78 | Energy | |
| Enterprise Products Partners L.P. | 0.06 | 0.13 | 0.21 | 89 | Energy | |
| Western Midstream Partners, LP | 0.07 | 0.16 | 0.23 | 80 | Energy |
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