Looking to diversify beyond MFDX? The ETFs below have the lowest correlation with MFDX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from MFDX.
Best Diversifiers for MFDX
220 ETFs have low correlation with MFDX (below 0.3), 61 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.47, down from -0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.47 | -0.34 | -0.26 | 61 | Leveraged Currency | MFDX vs YCS | |
| Invesco DB Energy Fund | -0.37 | -0.09 | 0.12 | 71 | Oil & Gas | MFDX vs DBE | |
| United States Brent Oil Fund LP | -0.36 | -0.08 | 0.11 | 65 | Oil & Gas | MFDX vs BNO | |
| United States Oil Fund LP | -0.36 | -0.08 | 0.11 | 66 | Oil & Gas | MFDX vs USO | |
| Defiance Oil Enhanced Options Income ETF | -0.33 | — | — | 56 | Derivative Income | MFDX vs USOY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MFDX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MFDX and solid risk/return profiles. The least correlated is Centrus Energy Corp. (LEU) (Energy) with a 1Y correlation of 0.23, down from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Centrus Energy Corp. | 0.23 | 0.30 | 0.38 | 55 | Energy | |
| NVIDIA Corporation | 0.27 | 0.33 | 0.44 | 78 | Technology | |
| Tesla, Inc. | 0.34 | 0.35 | 0.38 | 55 | Consumer Cyclical | |
| Apple Inc | 0.34 | 0.35 | 0.46 | 89 | Technology | |
| Vertiv Holdings Co. | 0.34 | 0.34 | 0.43 | 94 | Industrials |
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