Looking to diversify beyond TAXI? The ETFs below have the lowest correlation with TAXI — 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 TAXI.
Best Diversifiers for TAXI
4 ETFs have low correlation with TAXI (below 0.3), 0 of which are negatively correlated. The least correlated is FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) (Commodity Producers Equities) with a 1Y correlation of 0.06, roughly unchanged from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| FlexShares Morningstar Global Upstream Natural Res... | 0.06 | 0.06 | 0.06 | 84 | Commodity Producers Equities | TAXI vs GUNR | |
| FlexShares US Quality Low Volatility Index Fund | 0.19 | 0.19 | 0.19 | 53 | Volatility Hedged Equity | TAXI vs QLV | |
| PGIM Ultra Short Municipal Bond ETF | 0.22 | 0.22 | 0.22 | 88 | Municipal Bonds | TAXI vs PUSH | |
| FlexShares STOXX US ESG Select Index Fund | 0.24 | 0.24 | 0.24 | 67 | Large Cap Growth Equities | TAXI vs ESG | |
| FlexShares High Yield Value-Scored US Bond Index F... | 0.40 | 0.40 | 0.40 | 56 | High Yield Bonds | TAXI vs HYGV |
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