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 -0.11, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco NASDAQ 100 ETF | -0.11 | 0.04 | 0.11 | 74 | Nasdaq-100 | DMLP vs QQQM | |
| VanEck Semiconductor ETF | -0.08 | 0.05 | 0.12 | 96 | Semiconductors, Technology Equities | DMLP vs SMH | |
| J P Morgan Exchange-Traded Fund Trust - Limited Du... | -0.08 | — | — | 91 | Short-Term Bond | DMLP vs JPLD | |
| Vanguard S&P 500 ETF | -0.07 | 0.08 | 0.18 | 70 | S&P 500 | DMLP vs VOO | |
| Vanguard Information Technology ETF | -0.04 | 0.07 | 0.13 | 76 | 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 Coca-Cola Consolidated, Inc. (COKE) (Consumer Defensive) with a 1Y correlation of -0.04, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Coca-Cola Consolidated, Inc. | -0.04 | -0.02 | 0.08 | 80 | Consumer Defensive | |
| Welltower Inc. | -0.02 | -0.02 | 0.10 | 79 | Real Estate | |
| Caterpillar Inc. | 0.00 | 0.17 | 0.27 | 98 | Industrials | |
| BCE Inc. | 0.01 | 0.01 | 0.10 | 66 | Communication Services | |
| FLEX LNG Ltd | 0.10 | 0.22 | 0.30 | 81 | Energy |
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