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 VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.35, roughly unchanged from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.35 | 0.32 | 0.41 | 96 | Semiconductors, Technology Equities | MHK vs SMH | |
| Vanguard S&P 500 ETF | 0.51 | 0.49 | 0.56 | 70 | S&P 500 | MHK vs VOO | |
| State Street SPDR S&P 500 ETF | 0.51 | 0.50 | 0.56 | 70 | S&P 500 | MHK vs SPY | |
| iShares Morningstar Small-Cap Growth ETF | 0.60 | 0.63 | 0.65 | 50 | 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 eBay Inc. (EBAY) (Consumer Cyclical) with a 1Y correlation of 0.19, down from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| eBay Inc. | 0.19 | 0.28 | 0.38 | 73 | Consumer Cyclical | |
| Amazon.com, Inc | 0.25 | 0.26 | 0.33 | 60 | Consumer Cyclical | |
| Tesla, Inc. | 0.28 | 0.28 | 0.32 | 55 | Consumer Cyclical | |
| Expedia Group, Inc. | 0.34 | 0.35 | 0.43 | 62 | Consumer Cyclical | |
| The TJX Companies, Inc. | 0.34 | 0.33 | 0.43 | 78 | Consumer Cyclical |
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