Looking to diversify beyond DAXX.L? The ETFs below have the lowest correlation with DAXX.L — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from DAXX.L.
Best Diversifiers for DAXX.L
2 ETFs have low correlation with DAXX.L (below 0.3), 1 of which are negatively correlated. The least correlated is Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L) (Money Market) with a 1Y correlation of -0.02, roughly unchanged from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Lyxor Smart Overnight Return UCITS ETF C-GBP | -0.02 | -0.03 | -0.00 | 99 | Money Market | DAXX.L vs CSH2.L | |
| JPMorgan Eurozone Research Enhanced Index Equity (... | 0.29 | 0.22 | 0.22 | 99 | Europe Equities | DAXX.L vs JRDZ.L | |
| Ossiam Shiller Barclays Cape Europe Sector Value T... | 0.49 | 0.45 | 0.36 | 77 | Europe Equities | DAXX.L vs LCPE.L | |
| Amundi Nasdaq-100 UCITS USD | 0.49 | 0.46 | 0.52 | 78 | Nasdaq-100 | DAXX.L vs ANXG.L | |
| Franklin European Quality Dividend UCITS ETF | 0.50 | 0.56 | 0.65 | 80 | Europe Equities | DAXX.L vs FLXD.L |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DAXX.L, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DAXX.L and solid risk/return profiles. The least correlated is AstraZeneca plc (AZN.L) (Healthcare) with a 1Y correlation of 0.25, roughly unchanged from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AstraZeneca plc | 0.25 | 0.28 | 0.27 | 74 | Healthcare |
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