Looking to diversify beyond PXJ? The ETFs below have the lowest correlation with PXJ — 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 PXJ.
Best Diversifiers for PXJ
1291 ETFs have low correlation with PXJ (below 0.3), 162 of which are negatively correlated. The least correlated is Invesco BulletShares 2032 Municipal Bond ETF (BSMW) (Municipal Bonds) with a 1Y correlation of -0.17, roughly unchanged from -0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2032 Municipal Bond ETF | -0.17 | -0.04 | -0.07 | 63 | Municipal Bonds | PXJ vs BSMW | |
| Roundhill Weekly T-Bill ETF | -0.14 | -0.09 | -0.09 | 99 | Ultrashort Bond | PXJ vs WEEK | |
| J P Morgan Exchange-Traded Fund Trust - Limited Du... | -0.14 | -0.08 | -0.08 | 91 | Short-Term Bond | PXJ vs JPLD | |
| Strive Enhanced Income Short Maturity ETF | -0.14 | -0.05 | -0.05 | 97 | Ultrashort Bond | PXJ vs BUXX | |
| Franklin Short Duration U.S. Government ETF | -0.14 | -0.09 | -0.07 | 95 | Mortgage Backed Securities | PXJ vs FTSD |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PXJ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PXJ and solid risk/return profiles. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of 0.07, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.07 | 0.15 | 0.17 | 63 | Consumer Cyclical | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.16 | 0.23 | 0.25 | 95 | Technology | |
| The Toronto-Dominion Bank | 0.17 | 0.36 | 0.45 | 98 | Financial Services | |
| Advanced Micro Devices, Inc. | 0.18 | 0.22 | 0.24 | 98 | Technology | |
| Imperial Oil Limited | 0.58 | 0.64 | 0.69 | 91 | Energy |
Build a portfolio that complements PXJ
Add PXJ to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with PXJ