Looking to balance out your exposure to MAGN? The ETFs below have the lowest correlation with MAGN — they tend to move on their own, which can help reduce risk when MAGN drops. The stock ideas table highlights individual companies that behave independently from MAGN.
Best Diversifiers for MAGN
0 ETFs have low correlation with MAGN (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.37, roughly unchanged from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.37 | 0.32 | 0.35 | 74 | S&P 500 | MAGN vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MAGN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MAGN and solid risk/return profiles. The least correlated is PROG Holdings, Inc. (PRG) (Industrials) with a 1Y correlation of 0.47, up from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| PROG Holdings, Inc. | 0.47 | 0.32 | 0.32 | 56 | Industrials |
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