Looking to balance out your exposure to MGIH? The ETFs below have the lowest correlation with MGIH — they tend to move on their own, which can help reduce risk when MGIH drops. The stock ideas table highlights individual companies that behave independently from MGIH.
Best Diversifiers for MGIH
1 ETFs have low correlation with MGIH (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 0.14, roughly unchanged from 0.13 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.14 | 0.13 | — | 70 | S&P 500 | MGIH vs SPY |
Diversification Analysis
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