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
1083 ETFs have low correlation with PXJ (below 0.3), 123 of which are negatively correlated. The least correlated is Invesco BulletShares 2032 Municipal Bond ETF (BSMW) (Municipal Bonds) with a 1Y correlation of -0.18, down from -0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2032 Municipal Bond ETF | -0.18 | -0.04 | — | 68 | Municipal Bonds | PXJ vs BSMW | |
| Roundhill Weekly T-Bill ETF | -0.14 | -0.08 | -0.08 | 99 | Ultrashort Bond | PXJ vs WEEK | |
| Texas Capital Government Money Market ETF | -0.12 | — | — | 100 | Money Market | PXJ vs MMKT | |
| Franklin Short Duration U.S. Government ETF | -0.12 | -0.07 | -0.07 | 95 | Mortgage Backed Securities | PXJ vs FTSD | |
| JPMorgan Limited Duration Bond ETF | -0.12 | -0.08 | -0.08 | 89 | Short-Term Bond | PXJ vs JPLD |
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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 0.09, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | 0.09 | 0.15 | 0.18 | 54 | Consumer Cyclical | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.16 | 0.23 | 0.25 | 93 | Technology | |
| Advanced Micro Devices, Inc. | 0.18 | 0.23 | 0.25 | 97 | Technology | |
| The Toronto-Dominion Bank | 0.19 | 0.36 | 0.45 | 98 | Financial Services | |
| Imperial Oil Limited | 0.59 | 0.63 | 0.69 | 82 | Energy |
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