Looking to balance out your exposure to MGM? The ETFs below have historically moved differently from MGM, 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 MGM
3 ETFs have low correlation with MGM (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Information Technology ETF (VGT) (Technology Equities) with a 1Y correlation of 0.22, down from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Information Technology ETF | 0.22 | 0.37 | 0.48 | 52 | Technology Equities | MGM vs VGT | |
| Vanguard S&P 500 ETF | 0.29 | 0.46 | 0.54 | 68 | S&P 500 | MGM vs VOO | |
| State Street SPDR S&P 500 ETF | 0.29 | 0.46 | 0.54 | 67 | S&P 500 | MGM vs SPY | |
| Vanguard Total Stock Market ETF | 0.33 | 0.49 | 0.57 | 67 | Large Cap Blend Equities | MGM vs VTI |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MGM, 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 Philip Morris International Inc. (PM) (Consumer Defensive) with a 1Y correlation of -0.11, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Philip Morris International Inc. | -0.11 | 0.03 | 0.12 | 66 | Consumer Defensive | |
| Walmart Inc. | -0.06 | 0.05 | 0.10 | 62 | Consumer Defensive | |
| Newmont Corporation | 0.03 | 0.12 | 0.13 | 74 | Basic Materials | |
| Merck & Co., Inc. | 0.06 | 0.09 | 0.04 | 96 | Healthcare | |
| Freeport-McMoRan Inc. | 0.08 | 0.30 | 0.38 | 78 | Basic Materials |
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