Looking to balance out your exposure to AXGN? The ETFs below have the lowest correlation with AXGN — they tend to move on their own, which can help reduce risk when AXGN drops. The stock ideas table highlights individual companies that behave independently from AXGN.
Best Diversifiers for AXGN
19 ETFs have low correlation with AXGN (below 0.3), 4 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.20, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.20 | -0.15 | -0.03 | 100 | Government Bonds, Ultrashort Bond | AXGN vs BIL | |
| iShares Treasury Floating Rate Bond ETF | -0.06 | -0.07 | -0.06 | 100 | Government Bonds, Ultrashort Bond | AXGN vs TFLO | |
| iShares 0-1 Year Treasury Bond ETF | -0.06 | -0.03 | 0.02 | 100 | Government Bonds, Ultrashort Bond | AXGN vs SHV | |
| GraniteShares 2x Long DELL Daily ETF | -0.02 | 0.09 | 0.09 | 96 | Leveraged Equities | AXGN vs DLLL | |
| SPDR Bloomberg Barclays Investment Grade Floating ... | 0.03 | 0.01 | 0.09 | 99 | Corporate Bonds | AXGN vs FLRN |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AXGN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AXGN and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.05, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.05 | 0.07 | 0.13 | 70 | Energy | |
| Exxon Mobil Corporation | -0.03 | 0.06 | 0.10 | 72 | Energy | |
| Applied Optoelectronics, Inc. | -0.03 | 0.14 | 0.19 | 95 | Technology | |
| CrowdStrike Holdings, Inc. | -0.03 | 0.15 | 0.24 | 65 | Technology | |
| Alliance Entertainment Holding Corporation Class A... | -0.01 | 0.08 | 0.05 | 76 | Communication Services |
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