Looking to balance out your exposure to MTB? The ETFs below have the lowest correlation with MTB — they tend to move on their own, which can help reduce risk when MTB drops. The stock ideas table highlights individual companies that behave independently from MTB.
Best Diversifiers for MTB
5 ETFs have low correlation with MTB (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard Tax-Exempt Bond ETF (VTEB) (Municipal Bonds) with a 1Y correlation of 0.10, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | 0.10 | 0.07 | 0.02 | 76 | Municipal Bonds | MTB vs VTEB | |
| VanEck Semiconductor ETF | 0.16 | 0.24 | 0.31 | 94 | Semiconductors, Technology Equities | MTB vs SMH | |
| Direxion Daily Semiconductor Bull 3X ETF | 0.19 | 0.28 | 0.33 | 96 | Leveraged Equities, Semiconductors | MTB vs SOXL | |
| Invesco QQQ ETF | 0.20 | 0.27 | 0.34 | 59 | Nasdaq-100 | MTB vs QQQ | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.23 | 0.27 | — | 64 | Nasdaq-100, Derivative Income | MTB vs JEPQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MTB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MTB and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.03, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.03 | 0.12 | 0.20 | 70 | Technology | |
| Micron Technology, Inc. | 0.05 | 0.16 | 0.25 | 99 | Technology | |
| First Solar, Inc. | 0.08 | 0.18 | 0.18 | 74 | Technology | |
| Gilead Sciences, Inc. | 0.18 | 0.24 | 0.27 | 63 | Healthcare | |
| Bristol-Myers Squibb Company | 0.27 | 0.26 | 0.25 | 69 | Healthcare |
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