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
1339 ETFs have low correlation with MLPI (below 0.3), 1083 of which are negatively correlated. The least correlated is Invesco BulletShares 2034 Municipal Bond ETF (BSMY) (Municipal Bonds) with a 1Y correlation of -0.30, roughly unchanged from -0.30 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2034 Municipal Bond ETF | -0.30 | -0.30 | -0.30 | 66 | Municipal Bonds | MLPI vs BSMY | |
| Invesco BulletShares 2028 Municipal Bond ETF | -0.28 | -0.28 | -0.28 | 83 | Municipal Bonds | MLPI vs BSMS | |
| Eaton Vance Intermediate Municipal Income ETF | -0.28 | — | — | 76 | Municipal Bonds | MLPI vs EVIM | |
| Vanguard Core Tax-Exempt Bond ETF | -0.28 | — | — | 77 | Municipal Bonds | MLPI vs VCRM | |
| Nomura National High-Yield Municipal Bond ETF | -0.28 | -0.28 | -0.28 | 59 | High Yield Muni | MLPI vs HTAX |
To view more results, upgrade your current subscription plan.
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 |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements MLPI
Add MLPI to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with MLPI