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
6 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 0.04, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | 0.04 | 0.06 | 0.01 | 73 | Municipal Bonds | MTB vs VTEB | |
| VanEck Semiconductor ETF | 0.22 | 0.25 | 0.31 | 96 | Semiconductors, Technology Equities | MTB vs SMH | |
| State Street SPDR Portfolio S&P 500 Growth ETF | 0.22 | 0.27 | 0.36 | 60 | S&P 500, Large Cap Growth Equities | MTB vs SPYG | |
| Direxion Daily Semiconductor Bull 3X ETF | 0.24 | 0.29 | 0.34 | 97 | Leveraged Equities, Semiconductors | MTB vs SOXL | |
| Invesco QQQ ETF | 0.24 | 0.28 | 0.34 | 74 | Nasdaq-100 | MTB vs QQQ |
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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 Coterra Energy Inc. (CTRA) (Energy) with a 1Y correlation of 0.05, down from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Coterra Energy Inc. | 0.05 | 0.26 | 0.33 | 80 | Energy | |
| NVIDIA Corporation | 0.06 | 0.11 | 0.20 | 80 | Technology | |
| First Solar, Inc. | 0.09 | 0.19 | 0.18 | 81 | Technology | |
| Micron Technology, Inc. | 0.10 | 0.17 | 0.26 | 99 | Technology | |
| TMC the metals company Inc. | 0.15 | 0.14 | — | 58 | Basic Materials |
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Build a portfolio that complements MTB
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