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
345 ETFs have low correlation with AAXJ (below 0.3), 38 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.27, down from -0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.27 | -0.18 | -0.14 | 63 | Leveraged Currency | AAXJ vs YCS | |
| United States Gasoline Fund LP | -0.20 | 0.00 | 0.08 | 55 | Oil & Gas | AAXJ vs UGA | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.16 | — | — | 98 | Inflation-Protected Bonds | AAXJ vs IBIC | |
| WisdomTree Floating Rate Treasury Fund | -0.16 | -0.04 | -0.02 | 100 | Government Bonds, Ultrashort Bond | AAXJ vs USFR | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.14 | — | — | 97 | Inflation-Protected Bonds | AAXJ vs RBIL |
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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 -0.18, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RenaissanceRe Holdings Ltd. | -0.18 | -0.00 | 0.10 | 75 | Financial Services | |
| TC Energy Corporation | 0.03 | 0.22 | 0.29 | 95 | Energy | |
| Archer-Daniels-Midland Company | 0.04 | 0.15 | 0.18 | 85 | Consumer Defensive | |
| Public Storage | 0.17 | 0.24 | 0.22 | 58 | Real Estate | |
| Canadian National Railway Company | 0.24 | 0.35 | 0.41 | 61 | Industrials |
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