Looking to balance out your exposure to AXGN? The ETFs below have historically moved differently from AXGN, 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 AXGN
34 ETFs have low correlation with AXGN (below 0.3), 7 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 -0.19, down from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.19 | -0.14 | -0.03 | 100 | Government Bonds, Ultrashort Bond | AXGN vs BIL | |
| iShares Treasury Floating Rate Bond ETF | -0.08 | -0.06 | -0.07 | 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 | |
| iShares Global Energy ETF | -0.04 | 0.09 | 0.14 | 81 | Energy Equities | AXGN vs IXC | |
| First Trust Global Tactical Commodity Strategy Fun... | -0.03 | 0.04 | 0.05 | 86 | Commodities | AXGN vs FTGC |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AXGN, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.07, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.07 | 0.05 | 0.12 | 79 | Energy | |
| Exxon Mobil Corporation | -0.06 | 0.05 | 0.09 | 85 | Energy | |
| China Shenhua Energy Co Ltd | -0.06 | 0.02 | 0.05 | 72 | Energy | |
| Applied Optoelectronics, Inc. | -0.03 | 0.14 | 0.19 | 95 | Technology | |
| Baytex Energy Corp | -0.01 | 0.08 | 0.12 | 92 | Energy |
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