Looking to diversify beyond MLPA? The ETFs below have historically moved differently from MLPA, 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 MLPA
1622 ETFs have low correlation with MLPA (below 0.3), 1014 of which are negatively correlated. The least correlated is Invesco BulletShares 2032 Municipal Bond ETF (BSMW) (Municipal Bonds) with a 1Y correlation of -0.26, down from -0.06 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2032 Municipal Bond ETF | -0.26 | -0.06 | — | 65 | Municipal Bonds | MLPA vs BSMW | |
| Eaton Vance Intermediate Municipal Income ETF | -0.26 | — | — | 76 | Municipal Bonds | MLPA vs EVIM | |
| Invesco BulletShares 2034 Municipal Bond ETF | -0.25 | -0.02 | -0.02 | 64 | Municipal Bonds | MLPA vs BSMY | |
| Invesco BulletShares 2030 Municipal Bond ETF | -0.25 | -0.01 | -0.01 | 55 | Municipal Bonds | MLPA vs BSMU | |
| JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ... | -0.25 | -0.10 | — | 92 | Government Bonds, Short-Term Bond | MLPA vs BBSB |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MLPA, 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 Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of -0.09, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.09 | 0.07 | 0.17 | 60 | Consumer Cyclical | |
| Nuveen AMT-Free Quality Municipal Income Fund | -0.06 | 0.09 | 0.13 | 78 | Financial Services | |
| Kenon Holdings Ltd. | -0.03 | 0.06 | 0.18 | 75 | Utilities | |
| Oxford Lane Capital Corp. 7.125% Series 2029 Term ... | -0.00 | -0.02 | — | 86 | Financial Services | |
| Royce Value Trust Inc. | 0.01 | 0.27 | 0.40 | 85 | Financial Services |
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