Looking to balance out your exposure to MGNX? The ETFs below have the lowest correlation with MGNX — they tend to move on their own, which can help reduce risk when MGNX drops. The stock ideas table highlights individual companies that behave independently from MGNX.
No Diversifiers Found for MGNX
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MGNX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MGNX and solid risk/return profiles. The least correlated is Sunoco LP (SUN) (Energy) with a 1Y correlation of 0.07, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Sunoco LP | 0.07 | 0.06 | 0.08 | 80 | Energy | |
| JPMorgan Chase & Co. | 0.12 | 0.17 | 0.18 | 66 | Financial Services | |
| Sempra Energy | 0.15 | 0.10 | 0.09 | 71 | Utilities | |
| BHP Group | 0.16 | 0.14 | 0.12 | 92 | Basic Materials | |
| Forestar Group Inc. | 0.16 | 0.25 | 0.24 | 75 | Real Estate |
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