Looking to balance out your exposure to MITK? The ETFs below have the lowest correlation with MITK — they tend to move on their own, which can help reduce risk when MITK drops. The stock ideas table highlights individual companies that behave independently from MITK.
Best Diversifiers for MITK
0 ETFs have low correlation with MITK (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.42, roughly unchanged from 0.46 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.42 | 0.40 | 0.46 | 70 | S&P 500 | MITK vs SPY | |
| Vanguard S&P 500 ETF | 0.42 | 0.40 | 0.46 | 70 | S&P 500 | MITK vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MITK, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MITK and solid risk/return profiles. The least correlated is Oracle Corporation (ORCL) (Technology) with a 1Y correlation of 0.21, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Oracle Corporation | 0.21 | 0.26 | 0.29 | 58 | Technology | |
| Applied Materials, Inc. | 0.24 | 0.22 | 0.31 | 96 | Technology | |
| Fortinet, Inc. | 0.33 | 0.28 | 0.37 | 66 | Technology |
Build a portfolio that complements MITK
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