Looking to balance out your exposure to MITK? The ETFs below have historically moved differently from MITK, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
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 0.40, roughly unchanged from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.40 | 0.40 | 0.46 | 78 | S&P 500 | MITK vs SPY | |
| Vanguard S&P 500 ETF | 0.40 | 0.40 | 0.46 | 78 | S&P 500 | MITK vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MITK, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Applied Materials, Inc. (AMAT) (Technology) with a 1Y correlation of 0.24, roughly unchanged from 0.31 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Applied Materials, Inc. | 0.24 | 0.22 | 0.31 | 95 | Technology | |
| Fortinet, Inc. | 0.34 | 0.30 | 0.38 | 82 | Technology | |
| Airbnb, Inc. | 0.43 | 0.34 | 0.41 | 63 | Consumer Cyclical |
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