Looking to balance out your exposure to MELI? The ETFs below have the lowest correlation with MELI — they tend to move on their own, which can help reduce risk when MELI drops. The stock ideas table highlights individual companies that behave independently from MELI.
Best Diversifiers for MELI
216 ETFs have low correlation with MELI (below 0.3), 17 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 -0.16, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.16 | -0.09 | -0.03 | 100 | Government Bonds, Ultrashort Bond | MELI vs BIL | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.15 | -0.04 | 0.07 | 57 | Commodities | MELI vs GSG | |
| iShares Global Energy ETF | -0.12 | 0.03 | 0.14 | 62 | Energy Equities | MELI vs IXC | |
| State Street Energy Select Sector SPDR ETF | -0.12 | 0.02 | 0.13 | 55 | Energy Equities | MELI vs XLE | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.12 | -0.01 | 0.08 | 61 | Commodities | MELI vs PDBC |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MELI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MELI and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.19, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.19 | -0.03 | 0.05 | 77 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.15 | -0.04 | 0.08 | 77 | Energy | |
| Walmart Inc. | -0.15 | 0.04 | 0.12 | 68 | Consumer Defensive | |
| Devon Energy Corporation | -0.15 | 0.01 | 0.12 | 75 | Energy | |
| Chevron Corporation | -0.14 | -0.02 | 0.09 | 73 | Energy |
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