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
25 ETFs have low correlation with MDT (below 0.3), 1 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 -0.10, 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 | -0.10 | -0.04 | -0.04 | 100 | Government Bonds, Ultrashort Bond | MDT vs BIL | |
| Vanguard Information Technology ETF | 0.01 | 0.11 | 0.29 | 76 | Technology Equities | MDT vs VGT | |
| PIMCO Enhanced Short Maturity Active ETF | 0.03 | 0.08 | 0.09 | 100 | Ultrashort Bond | MDT vs MINT | |
| Invesco Solar ETF | 0.05 | 0.16 | 0.20 | 86 | Alternative Energy Equities | MDT vs TAN | |
| iShares Semiconductor ETF | 0.06 | 0.12 | 0.24 | 96 | Semiconductors, Technology Equities | MDT vs SOXX |
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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 Oracle Corporation (ORCL) (Technology) with a 1Y correlation of -0.15, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Oracle Corporation | -0.15 | 0.06 | 0.19 | 61 | Technology | |
| CrowdStrike Holdings, Inc. | -0.09 | 0.01 | 0.15 | 72 | Technology | |
| Dell Technologies Inc. | -0.04 | 0.03 | 0.17 | 96 | Technology | |
| Snowflake Inc. | -0.04 | 0.08 | 0.18 | 51 | Technology | |
| Broadcom Inc. | -0.03 | 0.02 | 0.17 | 76 | 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.
Analyze a portfolio with MDT