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
1 ETFs have low correlation with MIELY (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Select Dividend ETF (DVY) (Large Cap Value Equities) with a 1Y correlation of 0.26, roughly unchanged from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Select Dividend ETF | 0.26 | 0.27 | 0.32 | 57 | Large Cap Value Equities, Dividend | MIELY vs DVY | |
| Vanguard Information Technology ETF | 0.38 | 0.32 | 0.36 | 76 | Technology Equities | MIELY vs VGT |
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 Insmed Incorporated (INSM) (Healthcare) with a 1Y correlation of 0.00, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Insmed Incorporated | 0.00 | 0.10 | 0.15 | 62 | Healthcare | |
| EchoStar Corporation | 0.09 | 0.12 | 0.16 | 99 | Technology | |
| Lumentum Holdings Inc. | 0.14 | 0.18 | 0.22 | 99 | Technology | |
| Elbit Systems Ltd | 0.15 | 0.15 | 0.18 | 88 | Industrials | |
| AstraZeneca PLC | 0.15 | 0.18 | 0.19 | 70 | Healthcare |
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