Looking to balance out your exposure to AXS? The ETFs below have the lowest correlation with AXS — they tend to move on their own, which can help reduce risk when AXS drops. The stock ideas table highlights individual companies that behave independently from AXS.
Best Diversifiers for AXS
9 ETFs have low correlation with AXS (below 0.3), 3 of which are negatively correlated. The least correlated is iShares MSCI South Korea ETF (EWY) (Asia Pacific Equities) with a 1Y correlation of -0.14, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares MSCI South Korea ETF | -0.14 | 0.03 | 0.15 | 96 | Asia Pacific Equities | AXS vs EWY | |
| ProShares Ultra Technology | -0.12 | 0.03 | 0.17 | 83 | Leveraged Equities | AXS vs ROM | |
| iShares 0-3 Month Treasury Bond ETF | -0.08 | -0.06 | -0.04 | 100 | Ultrashort Bond | AXS vs SGOV | |
| Vanguard S&P 500 ETF | 0.06 | 0.20 | 0.34 | 70 | S&P 500 | AXS vs VOO | |
| iShares Short-Term Corporate Bond ETF | 0.07 | 0.05 | 0.05 | 75 | Corporate Bonds | AXS vs IGSB |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AXS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AXS and solid risk/return profiles. The least correlated is Taiwan Semiconductor Manufacturing Company Limited (TSM) (Technology) with a 1Y correlation of -0.20, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | -0.20 | -0.04 | 0.07 | 95 | Technology | |
| NVIDIA Corporation | -0.17 | -0.05 | 0.08 | 78 | Technology | |
| Norsk Hydro ASA ADR | -0.02 | 0.07 | 0.17 | 98 | Basic Materials | |
| Fortinet, Inc. | 0.00 | 0.06 | 0.14 | 66 | Technology | |
| Caterpillar Inc. | 0.00 | 0.19 | 0.31 | 98 | Industrials |
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