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
245 ETFs have low correlation with MELI (below 0.3), 21 of which are negatively correlated. The least correlated is ProShares Ultra Bloomberg Crude Oil (UCO) (Leveraged Commodities) with a 1Y correlation of -0.19, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Bloomberg Crude Oil | -0.19 | -0.04 | 0.06 | 54 | Leveraged Commodities | MELI vs UCO | |
| United States Oil Fund LP | -0.19 | -0.06 | 0.05 | 66 | Oil & Gas | MELI vs USO | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.19 | -0.09 | -0.03 | 100 | Government Bonds, Ultrashort Bond | MELI vs BIL | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.17 | -0.03 | 0.08 | 71 | Commodities | MELI vs GSG | |
| iShares 0-3 Month Treasury Bond ETF | -0.15 | -0.04 | -0.04 | 100 | Ultrashort Bond | MELI vs SGOV |
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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 -0.15, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.15 | -0.01 | 0.05 | 69 | Consumer Defensive | |
| Chevron Corporation | -0.15 | -0.01 | 0.10 | 83 | Energy | |
| Exxon Mobil Corporation | -0.13 | -0.02 | 0.08 | 85 | Energy | |
| Shell plc | -0.13 | 0.03 | 0.12 | 80 | Energy | |
| The Hershey Company | -0.12 | -0.01 | 0.01 | 55 | Consumer Defensive |
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