Looking to diversify beyond MLPR? The ETFs below have the lowest correlation with MLPR — 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 MLPR.
Best Diversifiers for MLPR
1514 ETFs have low correlation with MLPR (below 0.3), 528 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 -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Ultra Short Income ETF | -0.24 | -0.04 | -0.02 | 99 | Ultrashort Bond | MLPR vs BKUI | |
| Invesco BulletShares 2032 Municipal Bond ETF | -0.22 | -0.03 | -0.06 | 64 | Municipal Bonds | MLPR vs BSMW | |
| Eaton Vance Intermediate Municipal Income ETF | -0.21 | -0.02 | -0.02 | 74 | Municipal Bonds | MLPR vs EVIM | |
| State Street Ultra Short Term Bond ETF | -0.20 | -0.04 | -0.02 | 98 | Ultrashort Bond | MLPR vs ULST | |
| JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ... | -0.20 | -0.06 | — | 80 | Government Bonds, Short-Term Bond | MLPR vs BBSB |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MLPR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MLPR and solid risk/return profiles. The least correlated is TORM plc (TRMD) (Energy) with a 1Y correlation of 0.21, roughly unchanged from 0.28 over 5 years.
Build a portfolio that complements MLPR
Add MLPR to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with MLPR