Looking to diversify beyond AAXJ? The ETFs below have historically moved differently from AAXJ, 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 AAXJ
472 ETFs have low correlation with AAXJ (below 0.3), 77 of which are negatively correlated. The least correlated is YieldMax MSTR Short Option Income Strategy ETF (WNTR) (Derivative Income) with a 1Y correlation of -0.40, roughly unchanged from -0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax MSTR Short Option Income Strategy ETF | -0.40 | -0.38 | -0.38 | 63 | Derivative Income | AAXJ vs WNTR | |
| Invesco DB Energy Fund | -0.23 | -0.00 | 0.09 | 53 | Oil & Gas | AAXJ vs DBE | |
| ProShares UltraShort Yen | -0.21 | -0.16 | -0.15 | 59 | Leveraged Currency | AAXJ vs YCS | |
| iShares iBonds Oct 2026 Term TIPS ETF | -0.21 | — | — | 98 | Inflation-Protected Bonds | AAXJ vs IBIC | |
| iShares 0-3 Month Treasury Bond ETF | -0.17 | -0.03 | 0.01 | 100 | Ultrashort Bond | AAXJ vs SGOV |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AAXJ, 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 RenaissanceRe Holdings Ltd. (RNR) (Financial Services) with a 1Y correlation of -0.26, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RenaissanceRe Holdings Ltd. | -0.26 | -0.04 | 0.07 | 82 | Financial Services | |
| Enbridge Inc. | -0.11 | 0.17 | 0.29 | 78 | Energy | |
| TC Energy Corporation | 0.00 | 0.21 | 0.28 | 92 | Energy | |
| Archer-Daniels-Midland Company | 0.03 | 0.14 | 0.18 | 89 | Consumer Defensive | |
| Public Storage | 0.06 | 0.19 | 0.20 | 68 | Real Estate |
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