Looking to balance out your exposure to DMLP? The ETFs below have the lowest correlation with DMLP — they tend to move on their own, which can help reduce risk when DMLP drops. The stock ideas table highlights individual companies that behave independently from DMLP.
Best Diversifiers for DMLP
7 ETFs have low correlation with DMLP (below 0.3), 7 of which are negatively correlated. The least correlated is Invesco NASDAQ 100 ETF (QQQM) (Nasdaq-100) with a 1Y correlation of -0.14, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco NASDAQ 100 ETF | -0.14 | 0.03 | 0.11 | 59 | Nasdaq-100 | DMLP vs QQQM | |
| Vanguard S&P 500 ETF | -0.12 | 0.06 | 0.17 | 66 | S&P 500 | DMLP vs VOO | |
| VanEck Semiconductor ETF | -0.11 | 0.04 | 0.11 | 92 | Semiconductors, Technology Equities | DMLP vs SMH | |
| JPMorgan Limited Duration Bond ETF | -0.10 | — | — | 93 | Short-Term Bond | DMLP vs JPLD | |
| Vanguard Information Technology ETF | -0.07 | 0.07 | 0.12 | 57 | Technology Equities | DMLP vs VGT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DMLP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DMLP and solid risk/return profiles. The least correlated is Omega Healthcare Investors, Inc. (OHI) (Real Estate) with a 1Y correlation of -0.08, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Omega Healthcare Investors, Inc. | -0.08 | -0.04 | 0.05 | 89 | Real Estate | |
| Coca-Cola Consolidated, Inc. | -0.08 | -0.02 | 0.08 | 83 | Consumer Defensive | |
| Caterpillar Inc. | -0.05 | 0.14 | 0.25 | 97 | Industrials | |
| Welltower Inc. | -0.01 | -0.03 | 0.09 | 92 | Real Estate | |
| FLEX LNG Ltd | 0.15 | 0.22 | 0.29 | 88 | Energy |
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