Looking to diversify beyond MGOV? The ETFs below have historically moved differently from MGOV, 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 MGOV
597 ETFs have low correlation with MGOV (below 0.3), 63 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.46, down from -0.26 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.46 | -0.26 | — | 53 | Oil & Gas | MGOV vs DBE | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.41 | -0.22 | — | 50 | Commodities | MGOV vs GSG | |
| DoubleLine Commodity Strategy ETF | -0.38 | — | — | 52 | Commodities | MGOV vs DCMT | |
| Invesco DB Commodity Index Tracking Fund | -0.38 | — | — | 56 | Commodities | MGOV vs DBC | |
| Strive U.S. Energy ETF | -0.36 | -0.15 | -0.15 | 61 | Energy Equities | MGOV vs DRLL |
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