Looking to balance out your exposure to MTZ? The ETFs below have historically moved differently from MTZ, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for MTZ
1 ETFs have low correlation with MTZ (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily Energy Bull 2X Shares (ERX) (Energy Equities) with a 1Y correlation of 0.01, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily Energy Bull 2X Shares | 0.01 | 0.14 | 0.27 | 71 | Energy Equities, Leveraged Equities | MTZ vs ERX | |
| State Street SPDR S&P 500 ETF | 0.51 | 0.55 | 0.56 | 67 | S&P 500 | MTZ vs SPY | |
| Vanguard S&P 500 ETF | 0.51 | 0.55 | 0.56 | 68 | S&P 500 | MTZ vs VOO | |
| iShares Russell 1000 ETF | 0.51 | 0.56 | 0.57 | 64 | Large Cap Blend Equities | MTZ vs IWB | |
| VanEck Semiconductor ETF | 0.62 | 0.55 | 0.55 | 87 | Semiconductors, Technology Equities | MTZ vs SMH |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MTZ, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.19, down from -0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.19 | -0.10 | -0.00 | 59 | Utilities | |
| Duke Energy Corporation | -0.12 | -0.04 | 0.05 | 56 | Utilities | |
| Exxon Mobil Corporation | -0.10 | 0.02 | 0.17 | 84 | Energy | |
| Berkshire Hathaway Inc. | -0.10 | 0.12 | 0.27 | 61 | Financial Services | |
| Chevron Corporation | -0.08 | 0.04 | 0.19 | 80 | Energy |
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