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
1521 ETFs have low correlation with MLPX (below 0.3), 872 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 -0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Ultra Short Income ETF | -0.24 | -0.04 | — | 99 | Ultrashort Bond | MLPX vs BKUI | |
| Schwab Municipal Bond ETF | -0.19 | 0.04 | — | 66 | Municipal Bonds | MLPX vs SCMB | |
| Invesco BulletShares 2034 Municipal Bond ETF | -0.18 | — | — | 66 | Municipal Bonds | MLPX vs BSMY | |
| Eaton Vance Intermediate Municipal Income ETF | -0.18 | — | — | 74 | Municipal Bonds | MLPX vs EVIM | |
| Fidelity Municipal Bond Opportunities ETF | -0.18 | — | — | 77 | Municipal Bonds | MLPX vs FMUB |
To view more results, upgrade your current subscription plan.
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 -0.14, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.14 | 0.07 | 0.19 | 52 | Consumer Cyclical | |
| Arm Holdings plc American Depositary Shares | -0.10 | 0.13 | 0.13 | 90 | Technology | |
| The Boeing Company | -0.09 | 0.10 | 0.29 | 51 | Industrials | |
| Broadcom Inc. | -0.08 | 0.09 | 0.19 | 75 | Technology | |
| Ford Motor Company | -0.08 | 0.21 | 0.34 | 73 | Consumer Cyclical |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements MLPX
Add MLPX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with MLPX