Looking to diversify beyond MLPI? The ETFs below have the lowest correlation with MLPI — 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 MLPI.
Best Diversifiers for MLPI
1334 ETFs have low correlation with MLPI (below 0.3), 1075 of which are negatively correlated. The least correlated is Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) (Municipal Bonds) with a 1Y correlation of -0.27, roughly unchanged from -0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Franklin Liberty Federal Intermediate Tax-Free Bon... | -0.27 | -0.27 | -0.27 | 78 | Municipal Bonds | MLPI vs FLMI | |
| Invesco BulletShares 2032 Municipal Bond ETF | -0.27 | -0.27 | -0.27 | 68 | Municipal Bonds | MLPI vs BSMW | |
| Vanguard Short Duration Bond ETF Shares | -0.27 | -0.27 | -0.27 | 83 | Short-Term Bond | MLPI vs VSDB | |
| Capital Group Municipal Income ETF | -0.26 | -0.26 | -0.26 | 75 | Municipal Bonds | MLPI vs CGMU | |
| Vanguard Tax-Exempt Bond ETF | -0.26 | -0.26 | -0.26 | 72 | Municipal Bonds | MLPI vs VTEB |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MLPI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MLPI and solid risk/return profiles. The least correlated is Micron Technology, Inc. (MU) (Technology) with a 1Y correlation of -0.19, roughly unchanged from -0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Micron Technology, Inc. | -0.19 | -0.19 | -0.19 | 99 | Technology | |
| ASML Holding N.V. | -0.10 | -0.10 | -0.10 | 94 | Technology | |
| AGNC Investment Corp. | -0.10 | -0.10 | -0.10 | 77 | Real Estate | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.09 | -0.09 | -0.09 | 93 | Technology | |
| NVIDIA Corporation | -0.05 | -0.05 | -0.05 | 72 | Technology |
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