Looking to balance out your exposure to MCK? The ETFs below have the lowest correlation with MCK — they tend to move on their own, which can help reduce risk when MCK drops. The stock ideas table highlights individual companies that behave independently from MCK.
Best Diversifiers for MCK
58 ETFs have low correlation with MCK (below 0.3), 15 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Fabless Semiconductor ETF | -0.13 | — | — | 93 | Semiconductors, Technology Equities | MCK vs SMHX | |
| VanEck Semiconductor ETF | -0.11 | -0.06 | 0.04 | 96 | Semiconductors, Technology Equities | MCK vs SMH | |
| Franklin FTSE Taiwan ETF | -0.08 | -0.10 | 0.03 | 96 | Asia Pacific Equities | MCK vs FLTW | |
| State Street Technology Select Sector SPDR ETF | -0.07 | -0.01 | 0.11 | 83 | Technology Equities | MCK vs XLK | |
| Vanguard Information Technology ETF | -0.07 | -0.02 | 0.09 | 76 | Technology Equities | MCK vs VGT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MCK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MCK and solid risk/return profiles. The least correlated is Credo Technology Group Holding Ltd (CRDO) (Technology) with a 1Y correlation of -0.23, down from -0.12 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Credo Technology Group Holding Ltd | -0.23 | -0.12 | — | 85 | Technology | |
| Oracle Corporation | -0.16 | -0.01 | 0.11 | 58 | Technology | |
| Advanced Micro Devices, Inc. | -0.15 | -0.08 | 0.02 | 98 | Technology | |
| Dell Technologies Inc. | -0.12 | -0.01 | 0.11 | 96 | Technology | |
| Micron Technology, Inc. | -0.12 | -0.09 | 0.01 | 99 | Technology |
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