Looking to balance out your exposure to MDT? The ETFs below have the lowest correlation with MDT — they tend to move on their own, which can help reduce risk when MDT drops. The stock ideas table highlights individual companies that behave independently from MDT.
Best Diversifiers for MDT
29 ETFs have low correlation with MDT (below 0.3), 3 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.09, roughly unchanged from -0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.09 | -0.05 | -0.04 | 100 | Government Bonds, Ultrashort Bond | MDT vs BIL | |
| Fidelity MSCI Information Technology Index ETF | -0.02 | 0.10 | 0.28 | 61 | Technology Equities | MDT vs FTEC | |
| Vanguard Information Technology ETF | -0.00 | 0.10 | 0.28 | 60 | Technology Equities | MDT vs VGT | |
| iShares Semiconductor ETF | 0.03 | 0.11 | 0.23 | 96 | Semiconductors, Technology Equities | MDT vs SOXX | |
| PIMCO Enhanced Short Maturity Active ETF | 0.05 | 0.08 | 0.09 | 100 | Ultrashort Bond | MDT vs MINT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MDT, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MDT and solid risk/return profiles. The least correlated is CrowdStrike Holdings, Inc. (CRWD) (Technology) with a 1Y correlation of -0.12, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CrowdStrike Holdings, Inc. | -0.12 | 0.00 | 0.15 | 66 | Technology | |
| Dell Technologies Inc. | -0.07 | 0.04 | 0.16 | 96 | Technology | |
| Broadcom Inc. | -0.04 | 0.03 | 0.15 | 71 | Technology | |
| Datadog, Inc. | -0.03 | 0.02 | 0.17 | 74 | Technology | |
| Advanced Micro Devices, Inc. | -0.03 | 0.06 | 0.16 | 97 | Technology |
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Build a portfolio that complements MDT
Add MDT to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
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