Looking to balance out your exposure to MLI? The ETFs below have the lowest correlation with MLI — they tend to move on their own, which can help reduce risk when MLI drops. The stock ideas table highlights individual companies that behave independently from MLI.
Best Diversifiers for MLI
4 ETFs have low correlation with MLI (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of 0.04, down from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | 0.04 | 0.27 | 0.34 | 63 | Energy Equities | MLI vs XLE | |
| GraniteShares 2x Long AAPL Daily ETF | 0.27 | 0.25 | — | 66 | Leveraged Equities | MLI vs AAPB | |
| Sprott Junior Copper Miners ETF | 0.28 | 0.30 | 0.30 | 73 | Commodity Producers Equities | MLI vs COPJ | |
| iShares Global Clean Energy ETF | 0.30 | 0.37 | 0.38 | 87 | Alternative Energy Equities | MLI vs ICLN | |
| iShares MSCI Poland ETF | 0.30 | 0.30 | 0.36 | 55 | Europe Equities | MLI vs EPOL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MLI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MLI and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.16, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.16 | -0.14 | 0.05 | 68 | Financial Services | |
| Exxon Mobil Corporation | -0.06 | 0.15 | 0.25 | 85 | Energy | |
| Coterra Energy Inc. | -0.06 | 0.21 | 0.28 | 79 | Energy | |
| EOG Resources, Inc. | -0.01 | 0.17 | 0.25 | 69 | Energy | |
| PBF Energy Inc. | -0.00 | 0.19 | 0.24 | 83 | Energy |
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