Looking to balance out your exposure to MDXG? The ETFs below have the lowest correlation with MDXG — they tend to move on their own, which can help reduce risk when MDXG drops. The stock ideas table highlights individual companies that behave independently from MDXG.
Best Diversifiers for MDXG
0 ETFs have low correlation with MDXG (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 0.37, roughly unchanged from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.37 | 0.36 | 0.44 | 70 | S&P 500 | MDXG vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MDXG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MDXG and solid risk/return profiles. The least correlated is Permian Resources Corporation (PR) (Energy) with a 1Y correlation of -0.13, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Permian Resources Corporation | -0.13 | 0.10 | 0.16 | 81 | Energy | |
| Viper Energy Partners LP | -0.08 | 0.05 | 0.13 | 60 | Energy | |
| Sunoco LP | -0.06 | 0.10 | 0.12 | 76 | Energy | |
| Cboe Global Markets, Inc. | -0.05 | -0.06 | 0.10 | 68 | Financial Services | |
| REX American Resources Corporation | 0.02 | 0.17 | 0.22 | 96 | Basic Materials |
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