Looking to balance out your exposure to AXSM? The ETFs below have the lowest correlation with AXSM — they tend to move on their own, which can help reduce risk when AXSM drops. The stock ideas table highlights individual companies that behave independently from AXSM.
Best Diversifiers for AXSM
6 ETFs have low correlation with AXSM (below 0.3), 0 of which are negatively correlated. The least correlated is GraniteShares 2x Long AAPL Daily ETF (AAPB) (Leveraged Equities) with a 1Y correlation of 0.07, roughly unchanged from 0.12 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| GraniteShares 2x Long AAPL Daily ETF | 0.07 | 0.12 | — | 83 | Leveraged Equities | AXSM vs AAPB | |
| iShares MSCI South Korea ETF | 0.13 | 0.12 | 0.18 | 87 | South Korea Equities, Asia Pacific Equities | AXSM vs EWY | |
| ProShares Ultra Semiconductors | 0.14 | 0.16 | 0.21 | 60 | Leveraged Equities, Semiconductors | AXSM vs USD | |
| Direxion Daily Semiconductor Bull 3X ETF | 0.19 | 0.20 | 0.22 | 91 | Leveraged Equities, Semiconductors | AXSM vs SOXL | |
| State Street SPDR S&P 500 ETF | 0.24 | 0.26 | 0.29 | 65 | S&P 500 | AXSM vs SPY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AXSM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AXSM and solid risk/return profiles. The least correlated is Rush Street Interactive, Inc. (RSI) (Consumer Cyclical) with a 1Y correlation of -0.04, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Rush Street Interactive, Inc. | -0.04 | 0.20 | 0.27 | 92 | Consumer Cyclical | |
| TechnipFMC plc | 0.00 | 0.10 | 0.14 | 97 | Energy | |
| Arista Networks, Inc. | 0.02 | 0.13 | 0.18 | 74 | Technology | |
| CVS Health Corporation | 0.03 | 0.07 | 0.09 | 92 | Healthcare | |
| Vista Oil & Gas, S.A.B. de C.V. | 0.04 | 0.13 | 0.14 | 70 | Energy |
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