Looking to diversify beyond MGK? The ETFs below have historically moved differently from MGK, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for MGK
434 ETFs have low correlation with MGK (below 0.3), 109 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax MSTR Short Option Income Strategy ETF | -0.48 | — | — | 69 | Derivative Income | MGK vs WNTR | |
| ProShares Short Bitcoin ETF | -0.46 | -0.35 | — | 51 | Cryptocurrency | MGK vs BITI | |
| YieldMax XOM Option Income Strategy ETF | -0.31 | — | — | 52 | Derivative Income, Dividend | MGK vs XOMO | |
| Tortoise North American Pipeline Fund | -0.26 | 0.07 | 0.24 | 75 | Energy Equities | MGK vs TPYP | |
| Strive U.S. Energy ETF | -0.26 | -0.02 | 0.10 | 68 | Energy Equities | MGK vs DRLL |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MGK, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.39, down from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.39 | -0.22 | -0.03 | 52 | Utilities | |
| Altria Group, Inc. | -0.37 | -0.15 | -0.02 | 66 | Consumer Defensive | |
| The Coca-Cola Company | -0.32 | -0.12 | 0.10 | 87 | Consumer Defensive | |
| Chevron Corporation | -0.30 | -0.07 | 0.08 | 79 | Energy | |
| Exxon Mobil Corporation | -0.30 | -0.11 | 0.05 | 85 | Energy |
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