Looking to balance out your exposure to MGIC? The ETFs below have the lowest correlation with MGIC — they tend to move on their own, which can help reduce risk when MGIC drops. The stock ideas table highlights individual companies that behave independently from MGIC.
Best Diversifiers for MGIC
0 ETFs have low correlation with MGIC (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.30, roughly unchanged from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.30 | 0.29 | 0.39 | 74 | S&P 500 | MGIC vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MGIC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MGIC and solid risk/return profiles. The least correlated is Amgen Inc. (AMGN) (Healthcare) with a 1Y correlation of -0.01, roughly unchanged from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amgen Inc. | -0.01 | 0.08 | 0.09 | 67 | Healthcare | |
| Lockheed Martin Corporation | 0.02 | 0.01 | 0.03 | 51 | Industrials | |
| Incyte Corporation | 0.08 | 0.13 | 0.15 | 80 | Healthcare | |
| Taboola.com Ltd. | 0.09 | 0.15 | — | 63 | Communication Services | |
| UroGen Pharma Ltd. | 0.10 | 0.16 | 0.20 | 97 | Healthcare |
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