Looking to balance out your exposure to MMSI? The ETFs below have historically moved differently from MMSI, 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 MMSI
1 ETFs have low correlation with MMSI (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.22, down from 0.46 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.22 | 0.36 | 0.46 | 78 | S&P 500 | MMSI vs VOO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MMSI, 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 Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.10, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.10 | 0.11 | 0.24 | 68 | Technology | |
| Eli Lilly and Company | 0.17 | 0.17 | 0.21 | 79 | Healthcare | |
| Lantheus Holdings, Inc. | 0.23 | 0.29 | 0.36 | 71 | Healthcare |
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