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
208 ETFs have low correlation with AXON (below 0.3), 20 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.17, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.17 | 0.07 | 0.10 | 63 | Energy Equities | AXON vs XLE | |
| iShares Core High Dividend ETF | -0.16 | 0.06 | 0.15 | 64 | Dividend, Large Cap Value Equities | AXON vs HDV | |
| Fidelity MSCI Energy Index ETF | -0.15 | 0.09 | 0.12 | 64 | Energy Equities | AXON vs FENY | |
| iShares Global Energy ETF | -0.15 | 0.07 | 0.11 | 76 | Energy Equities | AXON vs IXC | |
| Vanguard Energy ETF | -0.14 | 0.09 | 0.12 | 64 | Energy Equities | AXON vs VDE |
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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 PepsiCo, Inc. (PEP) (Consumer Defensive) with a 1Y correlation of -0.22, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| PepsiCo, Inc. | -0.22 | -0.11 | -0.01 | 56 | Consumer Defensive | |
| The Coca-Cola Company | -0.20 | -0.08 | 0.00 | 66 | Consumer Defensive | |
| Johnson & Johnson | -0.19 | -0.16 | -0.05 | 92 | Healthcare | |
| Altria Group, Inc. | -0.18 | -0.09 | -0.05 | 69 | Consumer Defensive | |
| The Hershey Company | -0.18 | -0.11 | -0.05 | 55 | Consumer Defensive |
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