Looking to diversify beyond MLPX? The ETFs below have historically moved differently from MLPX, 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 MLPX
1614 ETFs have low correlation with MLPX (below 0.3), 1099 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 -0.06 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Ultra Short Income ETF | -0.24 | -0.06 | — | 99 | Ultrashort Bond | MLPX vs BKUI | |
| Invesco BulletShares 2034 Municipal Bond ETF | -0.24 | — | — | 64 | Municipal Bonds | MLPX vs BSMY | |
| Vanguard Tax-Exempt Bond ETF | -0.24 | 0.02 | 0.03 | 74 | Municipal Bonds | MLPX vs VTEB | |
| Eaton Vance Intermediate Municipal Income ETF | -0.24 | — | — | 76 | Municipal Bonds | MLPX vs EVIM | |
| Vanguard Core Tax-Exempt Bond ETF | -0.23 | -0.09 | -0.09 | 82 | Municipal Bonds | MLPX vs VCRM |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MLPX, 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 Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of -0.18, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.18 | 0.06 | 0.19 | 60 | Consumer Cyclical | |
| Alphabet Inc. Class A | -0.17 | 0.04 | 0.17 | 95 | Communication Services | |
| Airbnb, Inc. | -0.16 | 0.12 | 0.23 | 60 | Consumer Cyclical | |
| Broadcom Inc. | -0.15 | 0.08 | 0.20 | 67 | Technology | |
| Arm Holdings plc American Depositary Shares | -0.14 | — | — | 74 | Technology |
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