Looking to balance out your exposure to MTRN? The ETFs below have the lowest correlation with MTRN — they tend to move on their own, which can help reduce risk when MTRN drops. The stock ideas table highlights individual companies that behave independently from MTRN.
Best Diversifiers for MTRN
0 ETFs have low correlation with MTRN (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.44, roughly unchanged from 0.47 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.44 | 0.45 | 0.47 | 74 | Nasdaq-100 | MTRN vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.51 | 0.54 | 0.57 | 74 | S&P 500 | MTRN vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MTRN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MTRN and solid risk/return profiles. The least correlated is TMC the metals company Inc. (TMC) (Basic Materials) with a 1Y correlation of 0.20, roughly unchanged from 0.24 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| TMC the metals company Inc. | 0.20 | 0.24 | — | 58 | Basic Materials | |
| Lynas Rare Earths Ltd ADR | 0.21 | 0.26 | 0.29 | 84 | Basic Materials | |
| SSR Mining Inc. | 0.23 | 0.25 | 0.27 | 87 | Basic Materials | |
| United States Antimony Corporation | 0.27 | 0.20 | 0.19 | 80 | Basic Materials | |
| First Solar, Inc. | 0.27 | 0.30 | 0.32 | 81 | Technology |
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