Looking to balance out your exposure to MPNGY? The ETFs below have the lowest correlation with MPNGY — they tend to move on their own, which can help reduce risk when MPNGY drops. The stock ideas table highlights individual companies that behave independently from MPNGY.
No Diversifiers Found for MPNGY
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MPNGY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MPNGY and solid risk/return profiles. The least correlated is Linde plc (LIN) (Basic Materials) with a 1Y correlation of 0.03, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Linde plc | 0.03 | 0.15 | 0.16 | 52 | Basic Materials | |
| Orange S.A | 0.06 | 0.04 | 0.08 | 88 | Communication Services | |
| Shell plc | 0.12 | 0.23 | 0.20 | 80 | Energy | |
| National Oilwell Varco, Inc. | 0.14 | 0.22 | 0.17 | 86 | Energy | |
| AstraZeneca PLC | 0.17 | 0.14 | 0.13 | 70 | Healthcare |
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