Looking to balance out your exposure to MHK? The ETFs below have the lowest correlation with MHK — they tend to move on their own, which can help reduce risk when MHK drops. The stock ideas table highlights individual companies that behave independently from MHK.
Best Diversifiers for MHK
0 ETFs have low correlation with MHK (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Health Care Select Sector SPDR ETF (XLV) (Health & Biotech Equities) with a 1Y correlation of 0.31, roughly unchanged from 0.39 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Health Care Select Sector SPDR ETF | 0.31 | 0.38 | 0.39 | 50 | Health & Biotech Equities | MHK vs XLV | |
| VanEck Semiconductor ETF | 0.33 | 0.31 | 0.41 | 90 | Semiconductors, Technology Equities | MHK vs SMH | |
| Vanguard S&P 500 ETF | 0.49 | 0.50 | 0.56 | 66 | S&P 500 | MHK vs VOO | |
| State Street SPDR S&P 500 ETF | 0.50 | 0.50 | 0.56 | 65 | S&P 500 | MHK vs SPY | |
| iShares Morningstar Small-Cap Growth ETF | 0.60 | 0.62 | 0.65 | 54 | Small Cap Growth Equities | MHK vs ISCG |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MHK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MHK and solid risk/return profiles. The least correlated is Berkshire Hathaway Inc. (BRK-A) (Financial Services) with a 1Y correlation of 0.17, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.17 | 0.28 | 0.37 | 53 | Financial Services | |
| Tenet Healthcare Corporation | 0.19 | 0.31 | 0.39 | 56 | Healthcare | |
| eBay Inc. | 0.21 | 0.28 | 0.38 | 78 | Consumer Cyclical | |
| Amazon.com, Inc | 0.26 | 0.27 | 0.34 | 56 | Consumer Cyclical | |
| Tesla, Inc. | 0.26 | 0.29 | 0.33 | 59 | Consumer Cyclical |
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