Looking to diversify beyond MLPA? The ETFs below have the lowest correlation with MLPA — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from MLPA.
Best Diversifiers for MLPA
1488 ETFs have low correlation with MLPA (below 0.3), 925 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Intermediate Municipal Income ETF | -0.23 | — | — | 79 | Municipal Bonds | MLPA vs EVIM | |
| BNY Mellon Ultra Short Income ETF | -0.22 | -0.05 | — | 99 | Ultrashort Bond | MLPA vs BKUI | |
| Schwab Municipal Bond ETF | -0.21 | 0.03 | — | 71 | Municipal Bonds | MLPA vs SCMB | |
| Goldman Sachs Dynamic New York Municipal Income ET... | -0.21 | -0.09 | -0.09 | 80 | Municipal Bonds | MLPA vs GMNY | |
| Invesco BulletShares 2032 Municipal Bond ETF | -0.21 | -0.03 | — | 71 | Municipal Bonds | MLPA vs BSMW |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MLPA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MLPA and solid risk/return profiles. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of -0.09, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.09 | 0.07 | 0.18 | 55 | Consumer Cyclical | |
| Nuveen AMT-Free Quality Municipal Income Fund | -0.08 | 0.09 | 0.13 | 80 | Financial Services | |
| Oxford Lane Capital Corp. 7.125% Series 2029 Term ... | -0.06 | -0.03 | — | 86 | Financial Services | |
| Kenon Holdings Ltd. | -0.03 | 0.07 | 0.19 | 78 | Utilities | |
| Royce Value Trust Inc. | -0.00 | 0.29 | 0.41 | 83 | Financial Services |
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