Looking to diversify beyond PXI? The ETFs below have historically moved differently from PXI, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for PXI
1214 ETFs have low correlation with PXI (below 0.3), 349 of which are negatively correlated. The least correlated is Invesco BulletShares 2032 Municipal Bond ETF (BSMW) (Municipal Bonds) with a 1Y correlation of -0.31, down from -0.09 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2032 Municipal Bond ETF | -0.31 | -0.09 | — | 65 | Municipal Bonds | PXI vs BSMW | |
| Fidelity Municipal Bond Opportunities ETF | -0.31 | — | — | 76 | Municipal Bonds | PXI vs FMUB | |
| Franklin Short Duration U.S. Government ETF | -0.30 | -0.14 | -0.10 | 96 | Mortgage Backed Securities | PXI vs FTSD | |
| Franklin Liberty Federal Intermediate Tax-Free Bon... | -0.30 | -0.05 | -0.05 | 82 | Municipal Bonds | PXI vs FLMI | |
| JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ... | -0.30 | -0.16 | — | 92 | Government Bonds, Short-Term Bond | PXI vs BBSB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for PXI, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Magnolia Oil & Gas Corporation (MGY) (Energy) with a 1Y correlation of 0.76, roughly unchanged from 0.84 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Magnolia Oil & Gas Corporation | 0.76 | 0.78 | 0.84 | 54 | Energy |
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