Looking to diversify beyond MAGX? The ETFs below have historically moved differently from MAGX, 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 MAGX
447 ETFs have low correlation with MAGX (below 0.3), 96 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax MSTR Short Option Income Strategy ETF | -0.44 | — | — | 63 | Derivative Income | MAGX vs WNTR | |
| Strive U.S. Energy ETF | -0.27 | — | — | 61 | Energy Equities | MAGX vs DRLL | |
| iShares U.S. Energy ETF | -0.26 | -0.02 | -0.02 | 68 | Energy Equities | MAGX vs IYE | |
| Tortoise North American Pipeline Fund | -0.26 | — | — | 63 | Energy Equities | MAGX vs TPYP | |
| iShares U.S. Oil & Gas Exploration & Production ET... | -0.25 | -0.00 | -0.00 | 59 | Energy Equities | MAGX vs IEO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MAGX, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.29, down from -0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.29 | -0.10 | -0.10 | 76 | Energy | |
| Occidental Petroleum Corporation | -0.29 | -0.06 | -0.06 | 68 | Energy | |
| Devon Energy Corporation | -0.28 | -0.05 | -0.05 | 76 | Energy | |
| Exxon Mobil Corporation | -0.28 | -0.10 | -0.10 | 85 | Energy | |
| Altria Group, Inc. | -0.27 | -0.22 | -0.22 | 64 | Consumer Defensive |
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