Looking to balance out your exposure to DMLP? The ETFs below have historically moved differently from DMLP, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for DMLP
6 ETFs have low correlation with DMLP (below 0.3), 6 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of -0.12, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | -0.12 | 0.06 | 0.16 | 68 | S&P 500 | DMLP vs VOO | |
| VanEck Semiconductor ETF | -0.10 | 0.04 | 0.10 | 87 | Semiconductors, Technology Equities | DMLP vs SMH | |
| Fidelity Stocks for Inflation ETF | -0.08 | 0.12 | 0.24 | 63 | Large Cap Blend Equities | DMLP vs FCPI | |
| Fidelity MSCI Information Technology Index ETF | -0.08 | 0.06 | 0.12 | 52 | Technology Equities | DMLP vs FTEC | |
| Vanguard Information Technology ETF | -0.08 | 0.06 | 0.12 | 52 | Technology Equities | DMLP vs VGT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for DMLP, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Coca-Cola Consolidated, Inc. (COKE) (Consumer Defensive) with a 1Y correlation of -0.09, down from 0.07 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Coca-Cola Consolidated, Inc. | -0.09 | -0.03 | 0.07 | 87 | Consumer Defensive | |
| Omega Healthcare Investors, Inc. | -0.07 | -0.05 | 0.04 | 90 | Real Estate | |
| Caterpillar Inc. | -0.04 | 0.14 | 0.24 | 92 | Industrials | |
| Welltower Inc. | 0.01 | -0.02 | 0.09 | 89 | Real Estate | |
| FLEX LNG Ltd | 0.14 | 0.21 | 0.29 | 84 | Energy |
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