Looking to balance out your exposure to MCY? The ETFs below have historically moved differently from MCY, 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 MCY
3 ETFs have low correlation with MCY (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.06, down from 0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.06 | 0.21 | 0.28 | 78 | S&P 500 | MCY vs SPY | |
| Vanguard S&P 500 ETF | 0.06 | 0.21 | 0.28 | 78 | S&P 500 | MCY vs VOO | |
| iShares Core S&P Total U.S. Stock Market ETF | 0.07 | 0.23 | 0.29 | 78 | Large Cap Blend Equities | MCY vs ITOT | |
| Schwab U.S. Dividend Equity ETF | 0.31 | 0.36 | 0.40 | 95 | Dividend | MCY vs SCHD |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MCY, 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 Taiwan Semiconductor Manufacturing Company Limited (TSM) (Technology) with a 1Y correlation of -0.13, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | -0.13 | 0.01 | 0.09 | 88 | Technology | |
| Amphenol Corporation | -0.13 | 0.10 | 0.18 | 79 | Technology | |
| NVIDIA Corporation | -0.11 | -0.01 | 0.07 | 61 | Technology | |
| Gold Fields Limited | -0.08 | 0.01 | 0.05 | 63 | Basic Materials | |
| Newmont Corporation | -0.07 | 0.07 | 0.10 | 75 | Basic Materials |
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