Looking to balance out your exposure to MDGL? The ETFs below have the lowest correlation with MDGL — they tend to move on their own, which can help reduce risk when MDGL drops. The stock ideas table highlights individual companies that behave independently from MDGL.
Best Diversifiers for MDGL
2 ETFs have low correlation with MDGL (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 0.21, roughly unchanged from 0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.21 | 0.28 | 0.30 | 74 | S&P 500 | MDGL vs VOO | |
| State Street SPDR S&P 500 ETF | 0.21 | 0.28 | 0.30 | 74 | S&P 500 | MDGL vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MDGL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MDGL and solid risk/return profiles. The least correlated is Micron Technology, Inc. (MU) (Technology) with a 1Y correlation of 0.03, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Micron Technology, Inc. | 0.03 | 0.15 | 0.20 | 99 | Technology | |
| Dell Technologies Inc. | 0.05 | 0.12 | 0.17 | 96 | Technology | |
| Broadcom Inc. | 0.09 | 0.14 | 0.19 | 76 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | 0.10 | 0.15 | 0.20 | 95 | Technology | |
| Capricor Therapeutics, Inc. | 0.11 | 0.15 | 0.22 | 78 | Healthcare |
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