Looking to balance out your exposure to MITSY? The ETFs below have historically moved differently from MITSY, 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 MITSY
8 ETFs have low correlation with MITSY (below 0.3), 0 of which are negatively correlated. The least correlated is iShares 0-5 Year TIPS Bond ETF (STIP) (Inflation-Protected Bonds) with a 1Y correlation of 0.04, roughly unchanged from 0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-5 Year TIPS Bond ETF | 0.04 | 0.09 | 0.13 | 84 | Inflation-Protected Bonds | MITSY vs STIP | |
| Alerian MLP ETF | 0.08 | 0.23 | 0.25 | 55 | MLPs | MITSY vs AMLP | |
| Invesco Ultra Short Duration ETF | 0.09 | 0.11 | 0.11 | 99 | Ultrashort Bond | MITSY vs GSY | |
| iShares Global Energy ETF | 0.14 | 0.22 | 0.27 | 66 | Energy Equities | MITSY vs IXC | |
| Direxion Daily Semiconductor Bull 3X ETF | 0.28 | 0.30 | 0.30 | 90 | Leveraged Equities, Semiconductors | MITSY vs SOXL |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MITSY, 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 Monster Beverage Corporation (MNST) (Consumer Defensive) with a 1Y correlation of -0.06, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Monster Beverage Corporation | -0.06 | 0.06 | 0.09 | 92 | Consumer Defensive | |
| Visa Inc. | -0.04 | 0.15 | 0.17 | 56 | Financial Services | |
| The Coca-Cola Company | -0.02 | 0.06 | 0.09 | 86 | Consumer Defensive | |
| Coca-Cola Consolidated, Inc. | -0.01 | 0.11 | 0.13 | 85 | Consumer Defensive | |
| Saipem SpA ADR | -0.00 | 0.04 | 0.04 | 85 | Energy |
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