Looking to diversify beyond MLPB? The ETFs below have historically moved differently from MLPB, 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 MLPB
1521 ETFs have low correlation with MLPB (below 0.3), 1001 of which are negatively correlated. The least correlated is Invesco BulletShares 2034 Municipal Bond ETF (BSMY) (Municipal Bonds) with a 1Y correlation of -0.26, down from -0.05 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2034 Municipal Bond ETF | -0.26 | -0.05 | -0.05 | 51 | Municipal Bonds | MLPB vs BSMY | |
| Invesco BulletShares 2032 Municipal Bond ETF | -0.25 | -0.06 | -0.07 | 56 | Municipal Bonds | MLPB vs BSMW | |
| BNY Mellon Ultra Short Income ETF | -0.25 | -0.07 | — | 99 | Ultrashort Bond | MLPB vs BKUI | |
| Schwab Municipal Bond ETF | -0.25 | 0.01 | — | 54 | Municipal Bonds | MLPB vs SCMB | |
| Eaton Vance Intermediate Municipal Income ETF | -0.24 | — | — | 68 | Municipal Bonds | MLPB vs EVIM |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MLPB, 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 MPLX LP (MPLX) (Energy) with a 1Y correlation of 0.59, down from 0.77 over 5 years.
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