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
1517 ETFs have low correlation with MLPA (below 0.3), 720 of which are negatively correlated. The least correlated is BNY Mellon Ultra Short Income ETF (BKUI) (Ultrashort Bond) with a 1Y correlation of -0.24, down from -0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Ultra Short Income ETF | -0.24 | -0.04 | — | 99 | Ultrashort Bond | MLPA vs BKUI | |
| Roundhill Weekly T-Bill ETF | -0.23 | — | — | 99 | Ultrashort Bond | MLPA vs WEEK | |
| Strive Enhanced Income Short Maturity ETF | -0.22 | — | — | 97 | Ultrashort Bond | MLPA vs BUXX | |
| Invesco BulletShares 2032 Municipal Bond ETF | -0.22 | -0.03 | — | 64 | Municipal Bonds | MLPA vs BSMW | |
| Eaton Vance Intermediate Municipal Income ETF | -0.21 | -0.00 | -0.00 | 74 | Municipal Bonds | MLPA vs EVIM |
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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 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.09 | 0.07 | 0.17 | 52 | Consumer Cyclical | |
| Nuveen AMT-Free Quality Municipal Income Fund | -0.07 | 0.11 | 0.13 | 79 | Financial Services | |
| Oxford Lane Capital Corp. 7.125% Series 2029 Term ... | -0.06 | -0.03 | 0.05 | 83 | Financial Services | |
| Eagle Point Credit Company Inc. | -0.05 | 0.00 | 0.03 | 81 | Financial Services | |
| Kenon Holdings Ltd. | -0.01 | 0.09 | 0.20 | 86 | Utilities |
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