Looking to diversify beyond PXI? The ETFs below have the lowest correlation with PXI — 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 PXI.
Best Diversifiers for PXI
1131 ETFs have low correlation with PXI (below 0.3), 254 of which are negatively correlated. The least correlated is Invesco BulletShares 2032 Municipal Bond ETF (BSMW) (Municipal Bonds) with a 1Y correlation of -0.33, down from -0.08 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2032 Municipal Bond ETF | -0.33 | -0.08 | — | 64 | Municipal Bonds | PXI vs BSMW | |
| Fidelity Municipal Bond Opportunities ETF | -0.29 | -0.20 | -0.20 | 77 | Municipal Bonds | PXI vs FMUB | |
| Avantis Credit ETF | -0.29 | -0.26 | -0.26 | 50 | Global Bonds | PXI vs AVGB | |
| BNY Mellon Ultra Short Income ETF | -0.28 | -0.12 | -0.08 | 99 | Ultrashort Bond | PXI vs BKUI | |
| Franklin Liberty Federal Intermediate Tax-Free Bon... | -0.28 | -0.03 | -0.05 | 78 | Municipal Bonds | PXI vs FLMI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PXI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PXI and solid risk/return profiles. The least correlated is Magnolia Oil & Gas Corporation (MGY) (Energy) with a 1Y correlation of 0.78, roughly unchanged from 0.85 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Magnolia Oil & Gas Corporation | 0.78 | 0.79 | 0.85 | 57 | Energy |
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