Looking to diversify beyond EMLP? The ETFs below have the lowest correlation with EMLP — 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 EMLP.
Best Diversifiers for EMLP
1913 ETFs have low correlation with EMLP (below 0.3), 296 of which are negatively correlated. The least correlated is WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) (Nontraditional Bonds) with a 1Y correlation of -0.16, down from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree Interest Rate Hedged U.S. Aggregate Bon... | -0.16 | -0.01 | 0.08 | 76 | Nontraditional Bonds | EMLP vs AGZD | |
| iShares Short Maturity Municipal Bond ETF | -0.14 | 0.02 | 0.05 | 96 | Municipal Bonds | EMLP vs MEAR | |
| Eaton Vance Floating-Rate ETF | -0.13 | — | — | 73 | Bank Loan | EMLP vs EVLN | |
| Xtrackers US 0-1 Year Treasury ETF | -0.13 | — | — | 99 | Government Bonds, Ultrashort Bond | EMLP vs TRSY | |
| BNY Mellon Ultra Short Income ETF | -0.13 | 0.05 | — | 99 | Ultrashort Bond | EMLP vs BKUI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from EMLP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to EMLP and solid risk/return profiles. The least correlated is Brookfield Corporation (BN) (Financial Services) with a 1Y correlation of 0.11, down from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Brookfield Corporation | 0.11 | 0.41 | 0.51 | 55 | Financial Services |
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