Looking to diversify beyond MLPX? The ETFs below have the lowest correlation with MLPX — 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 MLPX.
Best Diversifiers for MLPX
1486 ETFs have low correlation with MLPX (below 0.3), 1022 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2034 Municipal Bond ETF | -0.23 | — | — | 74 | Municipal Bonds | MLPX vs BSMY | |
| BNY Mellon Ultra Short Income ETF | -0.22 | -0.05 | — | 99 | Ultrashort Bond | MLPX vs BKUI | |
| Eaton Vance Intermediate Municipal Income ETF | -0.21 | — | — | 79 | Municipal Bonds | MLPX vs EVIM | |
| Vanguard Tax-Exempt Bond ETF | -0.21 | 0.04 | 0.04 | 79 | Municipal Bonds | MLPX vs VTEB | |
| Schwab Municipal Bond ETF | -0.21 | 0.03 | — | 71 | Municipal Bonds | MLPX vs SCMB |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MLPX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MLPX and solid risk/return profiles. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of -0.16, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.16 | 0.06 | 0.19 | 55 | Consumer Cyclical | |
| Broadcom Inc. | -0.15 | 0.08 | 0.21 | 73 | Technology | |
| Arm Holdings plc American Depositary Shares | -0.14 | — | — | 85 | Technology | |
| Alphabet Inc. Class A | -0.14 | 0.05 | 0.18 | 96 | Communication Services | |
| Lam Research Corporation | -0.14 | 0.10 | 0.23 | 97 | Technology |
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