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
1100 ETFs have low correlation with PXI (below 0.3), 294 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 -0.08 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2032 Municipal Bond ETF | -0.31 | -0.08 | — | 71 | Municipal Bonds | PXI vs BSMW | |
| Avantis Credit ETF | -0.31 | — | — | 54 | Global Bonds | PXI vs AVGB | |
| Fidelity Municipal Bond Opportunities ETF | -0.29 | — | — | 84 | Municipal Bonds | PXI vs FMUB | |
| Franklin Short Duration U.S. Government ETF | -0.29 | -0.14 | -0.09 | 96 | Mortgage Backed Securities | PXI vs FTSD | |
| JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ... | -0.28 | -0.15 | -0.15 | 89 | Government Bonds, Short-Term Bond | PXI vs BBSB |
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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 0.79, roughly unchanged from 0.84 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Magnolia Oil & Gas Corporation | 0.79 | 0.79 | 0.84 | 56 | Energy |
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