Looking to balance out your exposure to LMP.L? The ETFs below have the lowest correlation with LMP.L — they tend to move on their own, which can help reduce risk when LMP.L drops. The stock ideas table highlights individual companies that behave independently from LMP.L.
Best Diversifiers for LMP.L
5 ETFs have low correlation with LMP.L (below 0.3), 1 of which are negatively correlated. The least correlated is Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) (Money Market) with a 1Y correlation of -0.01, roughly unchanged from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Amundi Smart Overnight Return UCITS ETF GBP Hedged... | -0.01 | 0.08 | 0.04 | 99 | Money Market | LMP.L vs CSH2.L | |
| JPM Nasdaq Equity Premium Income Active UCITS ETF ... | 0.04 | — | — | 68 | Nasdaq-100, Derivative Income | LMP.L vs JEQP.L | |
| Avantis Global Small Cap Value UCITS ETF USD Acc | 0.19 | — | — | 93 | Small Cap Value Equities | LMP.L vs AVSG.L | |
| Invesco Global Active ESG Equity UCITS ETF USD Acc | 0.25 | 0.26 | 0.30 | 86 | Global Equities, ESG | LMP.L vs IQSA.L | |
| iShares Core MSCI World UCITS ETF USD (Acc) | 0.26 | 0.24 | 0.30 | 81 | Global Equities | LMP.L vs SWDA.L |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from LMP.L, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to LMP.L and solid risk/return profiles. The least correlated is BioPharma Credit plc (BPCR.L) (Financial Services) with a 1Y correlation of 0.13, roughly unchanged from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BioPharma Credit plc | 0.13 | 0.11 | 0.07 | 92 | Financial Services | |
| British American Tobacco plc | 0.16 | 0.20 | 0.14 | 78 | Consumer Defensive | |
| GlaxoSmithKline plc | 0.18 | 0.20 | 0.19 | 86 | Healthcare | |
| Drax Group | 0.22 | 0.34 | 0.29 | 67 | Utilities | |
| Murray International Trust | 0.30 | 0.31 | 0.35 | 94 | Financial Services |
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