Looking to diversify beyond AAXJ? The ETFs below have the lowest correlation with AAXJ — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from AAXJ.
Best Diversifiers for AAXJ
447 ETFs have low correlation with AAXJ (below 0.3), 73 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.40 | — | — | 53 | Inverse Equities | AAXJ vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.39 | — | — | 61 | Inverse Equities, Leveraged Equities | AAXJ vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.38 | — | — | 69 | Derivative Income | AAXJ vs WNTR | |
| Alpha Architect Tail Risk ETF | -0.33 | -0.10 | -0.01 | 53 | Options Trading | AAXJ vs CAOS | |
| ProShares UltraShort Yen | -0.22 | -0.16 | -0.14 | 67 | Leveraged Currency | AAXJ vs YCS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AAXJ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AAXJ and solid risk/return profiles. The least correlated is RenaissanceRe Holdings Ltd. (RNR) (Financial Services) with a 1Y correlation of -0.23, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RenaissanceRe Holdings Ltd. | -0.23 | -0.02 | 0.09 | 81 | Financial Services | |
| Enbridge Inc. | -0.09 | 0.18 | 0.30 | 88 | Energy | |
| TC Energy Corporation | 0.02 | 0.21 | 0.28 | 95 | Energy | |
| Archer-Daniels-Midland Company | 0.05 | 0.15 | 0.18 | 92 | Consumer Defensive | |
| Public Storage | 0.10 | 0.21 | 0.21 | 64 | Real Estate |
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