Looking to balance out your exposure to AXON? The ETFs below have the lowest correlation with AXON — they tend to move on their own, which can help reduce risk when AXON drops. The stock ideas table highlights individual companies that behave independently from AXON.
Best Diversifiers for AXON
162 ETFs have low correlation with AXON (below 0.3), 12 of which are negatively correlated. The least correlated is iShares Core High Dividend ETF (HDV) (Dividend) with a 1Y correlation of -0.15, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core High Dividend ETF | -0.15 | 0.05 | 0.15 | 70 | Dividend, Large Cap Value Equities | AXON vs HDV | |
| WisdomTree Floating Rate Treasury Fund | -0.13 | -0.01 | -0.02 | 100 | Government Bonds, Ultrashort Bond | AXON vs USFR | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.12 | -0.04 | -0.01 | 100 | Government Bonds, Ultrashort Bond | AXON vs BIL | |
| First Trust Morningstar Dividend Leaders Index Fun... | -0.09 | 0.09 | 0.16 | 69 | Large Cap Value Equities, Dividend | AXON vs FDL | |
| Global X MLP & Energy Infrastructure ETF | -0.06 | 0.21 | 0.22 | 55 | MLPs | AXON vs MLPX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AXON, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AXON and solid risk/return profiles. The least correlated is Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.27, down from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.27 | -0.13 | -0.07 | 61 | Utilities | |
| The Coca-Cola Company | -0.24 | -0.10 | -0.01 | 74 | Consumer Defensive | |
| Johnson & Johnson | -0.21 | -0.17 | -0.05 | 96 | Healthcare | |
| PepsiCo, Inc. | -0.20 | -0.10 | -0.01 | 61 | Consumer Defensive | |
| Altria Group, Inc. | -0.19 | -0.10 | -0.05 | 72 | Consumer Defensive |
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