Looking to diversify beyond MAGX? The ETFs below have the lowest correlation with MAGX — 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 MAGX.
Best Diversifiers for MAGX
402 ETFs have low correlation with MAGX (below 0.3), 89 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.28 | — | — | 71 | Oil & Gas | MAGX vs DBE | |
| United States Oil Fund LP | -0.27 | — | — | 66 | Oil & Gas | MAGX vs USO | |
| Defiance Oil Enhanced Options Income ETF | -0.27 | — | — | 56 | Derivative Income | MAGX vs USOY | |
| United States Brent Oil Fund LP | -0.26 | — | — | 65 | Oil & Gas | MAGX vs BNO | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.25 | — | — | 55 | Oil & Gas | MAGX vs OILK |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MAGX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MAGX and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.28, roughly unchanged from -0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.28 | -0.26 | -0.26 | 53 | Utilities | |
| Altria Group, Inc. | -0.25 | -0.22 | -0.22 | 69 | Consumer Defensive | |
| Chubb Limited | -0.22 | -0.17 | -0.17 | 51 | Financial Services | |
| Exxon Mobil Corporation | -0.20 | -0.07 | -0.07 | 85 | Energy | |
| Chevron Corporation | -0.20 | -0.09 | -0.09 | 83 | Energy |
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