Looking to diversify beyond EMLP? The ETFs below have historically moved differently from EMLP, 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 EMLP
1990 ETFs have low correlation with EMLP (below 0.3), 684 of which are negatively correlated. The least correlated is iShares U.S. Technology ETF (IYW) (Technology Equities) with a 1Y correlation of -0.16, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares U.S. Technology ETF | -0.16 | 0.11 | 0.27 | 51 | Technology Equities | EMLP vs IYW | |
| Fidelity Low Duration Bond ETF | -0.16 | — | — | 98 | Short-Term Bond | EMLP vs FLDB | |
| Xtrackers US 0-1 Year Treasury ETF | -0.15 | -0.13 | -0.13 | 99 | Government Bonds, Ultrashort Bond | EMLP vs TRSY | |
| Fidelity Cloud Computing ETF | -0.15 | 0.16 | 0.28 | 56 | Technology Equities, Cloud Computing | EMLP vs FCLD | |
| Xtrackers Artificial Intelligence and Big Data ETF | -0.15 | — | — | 60 | Artificial Intelligence, Technology Equities | EMLP vs XAIX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for EMLP, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.25, down from 0.51 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.25 | 0.37 | 0.51 | 61 | Financial Services | |
| MPLX LP | 0.56 | 0.63 | 0.66 | 79 | Energy |
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