Looking to balance out your exposure to MIELY? The ETFs below have the lowest correlation with MIELY — they tend to move on their own, which can help reduce risk when MIELY drops. The stock ideas table highlights individual companies that behave independently from MIELY.
Best Diversifiers for MIELY
19 ETFs have low correlation with MIELY (below 0.3), 5 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.08, roughly unchanged from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.08 | -0.04 | -0.00 | 100 | Government Bonds, Ultrashort Bond | MIELY vs BIL | |
| iShares 0-1 Year Treasury Bond ETF | -0.03 | 0.03 | 0.06 | 100 | Government Bonds, Ultrashort Bond | MIELY vs SHV | |
| Invesco S&P SmallCap Energy ETF | -0.01 | 0.10 | 0.18 | 65 | Energy Equities | MIELY vs PSCE | |
| First Trust Global Tactical Commodity Strategy Fun... | -0.01 | 0.04 | 0.13 | 80 | Commodities | MIELY vs FTGC | |
| Vanguard Short-Term Inflation-Protected Securities... | -0.01 | 0.06 | 0.11 | 91 | Inflation-Protected Bonds | MIELY vs VTIP |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MIELY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MIELY and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.14, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.14 | 0.02 | 0.11 | 73 | Energy | |
| The Coca-Cola Company | -0.12 | -0.03 | 0.09 | 81 | Consumer Defensive | |
| TotalEnergies SE | -0.02 | 0.09 | 0.11 | 80 | Energy | |
| Johnson & Johnson | -0.01 | 0.02 | 0.10 | 97 | Healthcare | |
| China Shenhua Energy Co Ltd | 0.03 | 0.10 | 0.13 | 77 | Energy |
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