Looking to balance out your exposure to MIRM? The ETFs below have the lowest correlation with MIRM — they tend to move on their own, which can help reduce risk when MIRM drops. The stock ideas table highlights individual companies that behave independently from MIRM.
Best Diversifiers for MIRM
1 ETFs have low correlation with MIRM (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Information Technology ETF (VGT) (Technology Equities) with a 1Y correlation of 0.28, roughly unchanged from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Information Technology ETF | 0.28 | 0.25 | 0.24 | 76 | Technology Equities | MIRM vs VGT |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MIRM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MIRM and solid risk/return profiles. The least correlated is Modine Manufacturing Company (MOD) (Consumer Cyclical) with a 1Y correlation of 0.14, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Modine Manufacturing Company | 0.14 | 0.22 | 0.17 | 94 | Consumer Cyclical | |
| IES Holdings, Inc. | 0.14 | 0.18 | 0.17 | 91 | Industrials | |
| Argan, Inc. | 0.18 | 0.18 | 0.15 | 93 | Industrials | |
| BrightSpring Health Services, Inc | 0.19 | — | — | 96 | Healthcare | |
| Bloom Energy Corporation | 0.20 | 0.23 | 0.24 | 99 | Industrials |
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