Looking to balance out your exposure to MGM? The ETFs below have the lowest correlation with MGM — they tend to move on their own, which can help reduce risk when MGM drops. The stock ideas table highlights individual companies that behave independently from MGM.
Best Diversifiers for MGM
2 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 0.25, down from 0.48 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Information Technology ETF | 0.25 | 0.39 | 0.48 | 58 | Technology Equities | MGM vs VGT | |
| Invesco QQQ ETF | 0.26 | 0.40 | 0.49 | 59 | Nasdaq-100 | MGM vs QQQ | |
| Vanguard S&P 500 ETF | 0.34 | 0.48 | 0.55 | 59 | S&P 500 | MGM vs VOO | |
| State Street SPDR S&P 500 ETF | 0.35 | 0.48 | 0.55 | 59 | S&P 500 | MGM vs SPY | |
| Vanguard Total Stock Market ETF | 0.37 | 0.51 | 0.58 | 59 | Large Cap Blend Equities | MGM vs VTI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MGM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MGM and solid risk/return profiles. The least correlated is Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of -0.10, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | -0.10 | 0.04 | 0.10 | 69 | Consumer Defensive | |
| Merck & Co., Inc. | 0.09 | 0.08 | 0.04 | 89 | Healthcare | |
| YUM! Brands, Inc. | 0.15 | 0.24 | 0.33 | 55 | Consumer Cyclical | |
| Freeport-McMoRan Inc. | 0.15 | 0.33 | 0.40 | 75 | Basic Materials | |
| The TJX Companies, Inc. | 0.16 | 0.27 | 0.40 | 86 | Consumer Cyclical |
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