Looking to diversify beyond AMLP? The ETFs below have the lowest correlation with AMLP — 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 AMLP.
Best Diversifiers for AMLP
1979 ETFs have low correlation with AMLP (below 0.3), 1250 of which are negatively correlated. The least correlated is BNY Mellon Ultra Short Income ETF (BKUI) (Ultrashort Bond) with a 1Y correlation of -0.24, down from -0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Ultra Short Income ETF | -0.24 | -0.04 | — | 99 | Ultrashort Bond | AMLP vs BKUI | |
| IQ MacKay Municipal Insured ETF | -0.23 | -0.02 | -0.01 | 84 | Municipal Bonds | AMLP vs MMIN | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | -0.23 | -0.01 | -0.00 | 84 | Municipal Bonds | AMLP vs RVNU | |
| Eaton Vance Intermediate Municipal Income ETF | -0.23 | — | — | 79 | Municipal Bonds | AMLP vs EVIM | |
| Invesco BulletShares 2034 Municipal Bond ETF | -0.21 | — | — | 74 | Municipal Bonds | AMLP vs BSMY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from AMLP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to AMLP and solid risk/return profiles. The least correlated is Copa Holdings, S.A. (CPA) (Industrials) with a 1Y correlation of -0.17, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Copa Holdings, S.A. | -0.17 | 0.10 | 0.22 | 73 | Industrials | |
| Micron Technology, Inc. | -0.15 | 0.11 | 0.21 | 99 | Technology | |
| Lam Research Corporation | -0.14 | 0.10 | 0.21 | 97 | Technology | |
| Western Digital Corporation | -0.13 | 0.12 | 0.26 | 99 | Technology | |
| Interactive Brokers Group, Inc. | -0.12 | 0.19 | 0.27 | 85 | Financial Services |
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