Looking to balance out your exposure to AXR? The ETFs below have the lowest correlation with AXR — they tend to move on their own, which can help reduce risk when AXR drops. The stock ideas table highlights individual companies that behave independently from AXR.
Best Diversifiers for AXR
2 ETFs have low correlation with AXR (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.26, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.26 | 0.20 | 0.17 | 63 | S&P 500 | AXR vs SPY | |
| Vanguard S&P 500 ETF | 0.26 | 0.20 | 0.17 | 63 | S&P 500 | AXR vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AXR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AXR and solid risk/return profiles. The least correlated is Pampa Energía S.A. (PAM) (Utilities) with a 1Y correlation of -0.00, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Pampa Energía S.A. | -0.00 | 0.08 | 0.06 | 54 | Utilities | |
| Transportadora de Gas del Sur S.A. | 0.01 | 0.04 | 0.05 | 51 | Energy | |
| Murphy USA Inc. | 0.01 | 0.05 | 0.05 | 67 | Consumer Cyclical | |
| Lincoln Educational Services Corporation | 0.02 | 0.07 | 0.05 | 91 | Consumer Defensive | |
| Fortinet, Inc. | 0.04 | 0.09 | 0.10 | 70 | Technology |
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