Looking to diversify beyond MGK? The ETFs below have the lowest correlation with MGK — 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 MGK.
Best Diversifiers for MGK
354 ETFs have low correlation with MGK (below 0.3), 87 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.30, down from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.30 | -0.08 | 0.02 | 66 | Oil & Gas | MGK vs USO | |
| United States Brent Oil Fund LP | -0.30 | -0.07 | 0.02 | 65 | Oil & Gas | MGK vs BNO | |
| Invesco DB Energy Fund | -0.29 | -0.09 | 0.04 | 71 | Oil & Gas | MGK vs DBE | |
| Defiance Oil Enhanced Options Income ETF | -0.28 | — | — | 56 | Derivative Income | MGK vs USOY | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.27 | -0.05 | 0.04 | 56 | Oil & Gas | MGK vs OILK |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MGK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MGK and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.28, down from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.28 | -0.11 | 0.01 | 67 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.26 | -0.09 | 0.06 | 85 | Energy | |
| Duke Energy Corporation | -0.26 | -0.16 | -0.02 | 52 | Utilities | |
| ConocoPhillips Company | -0.22 | -0.02 | 0.10 | 76 | Energy | |
| Chevron Corporation | -0.21 | -0.05 | 0.08 | 83 | Energy |
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