Looking to balance out your exposure to MPWR? The ETFs below have the lowest correlation with MPWR — they tend to move on their own, which can help reduce risk when MPWR drops. The stock ideas table highlights individual companies that behave independently from MPWR.
Best Diversifiers for MPWR
3 ETFs have low correlation with MPWR (below 0.3), 1 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.08, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.08 | 0.06 | 0.15 | 59 | Energy Equities | MPWR vs XLE | |
| Schwab U.S. Dividend Equity ETF | 0.12 | 0.28 | 0.40 | 91 | Dividend | MPWR vs SCHD | |
| SPDR S&P Oil & Gas Equipment & Services ETF | 0.25 | 0.28 | 0.30 | 86 | Energy Equities | MPWR vs XES | |
| Amplify CWP Enhanced Dividend Income ETF | 0.30 | 0.39 | 0.44 | 72 | Derivative Income | MPWR vs DIVO | |
| Fidelity International High Dividend ETF | 0.31 | 0.37 | 0.42 | 87 | Foreign Large Cap Equities, Dividend | MPWR vs FIDI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MPWR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MPWR and solid risk/return profiles. The least correlated is Waste Management, Inc. (WM) (Industrials) with a 1Y correlation of -0.29, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Waste Management, Inc. | -0.29 | -0.09 | 0.04 | 56 | Industrials | |
| Consolidated Edison, Inc. | -0.28 | -0.20 | -0.10 | 70 | Utilities | |
| Altria Group, Inc. | -0.28 | -0.14 | -0.06 | 80 | Consumer Defensive | |
| Colgate-Palmolive Company | -0.26 | -0.14 | -0.06 | 56 | Consumer Defensive | |
| Verizon Communications Inc. | -0.25 | -0.12 | -0.06 | 61 | Communication Services |
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Build a portfolio that complements MPWR
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