Looking to balance out your exposure to AX? The ETFs below have the lowest correlation with AX — they tend to move on their own, which can help reduce risk when AX drops. The stock ideas table highlights individual companies that behave independently from AX.
Best Diversifiers for AX
0 ETFs have low correlation with AX (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.44, down from 0.55 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.44 | 0.46 | 0.55 | 74 | S&P 500 | AX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.44 | 0.46 | 0.55 | 74 | S&P 500 | AX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AX and solid risk/return profiles. The least correlated is Argan, Inc. (AGX) (Industrials) with a 1Y correlation of 0.06, down from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Argan, Inc. | 0.06 | 0.23 | 0.30 | 94 | Industrials | |
| Avino Silver & Gold Mines Ltd. | 0.07 | 0.10 | 0.13 | 73 | Basic Materials | |
| AppLovin Corporation | 0.08 | 0.18 | 0.26 | 57 | Technology | |
| Broadcom Inc. | 0.12 | 0.18 | 0.27 | 76 | Technology | |
| Arcutis Biotherapeutics, Inc. | 0.21 | 0.23 | 0.27 | 73 | Healthcare |
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