Looking to balance out your exposure to MTZ? The ETFs below have the lowest correlation with MTZ — they tend to move on their own, which can help reduce risk when MTZ drops. The stock ideas table highlights individual companies that behave independently from MTZ.
Best Diversifiers for MTZ
0 ETFs have low correlation with MTZ (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.50, roughly unchanged from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.50 | 0.51 | 0.51 | 64 | Nasdaq-100 | MTZ vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.51 | 0.55 | 0.57 | 67 | S&P 500 | MTZ vs SPY | |
| Vanguard S&P 500 ETF | 0.52 | 0.55 | 0.56 | 68 | S&P 500 | MTZ vs VOO | |
| iShares Russell 1000 ETF | 0.52 | 0.56 | 0.57 | 65 | Large Cap Blend Equities | MTZ vs IWB | |
| VanEck Semiconductor ETF | 0.57 | 0.54 | 0.54 | 94 | Semiconductors, Technology Equities | MTZ vs SMH |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MTZ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MTZ and solid risk/return profiles. The least correlated is Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.19, down from -0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.19 | -0.09 | -0.00 | 68 | Utilities | |
| Exxon Mobil Corporation | -0.10 | 0.02 | 0.18 | 71 | Energy | |
| Duke Energy Corporation | -0.09 | -0.02 | 0.05 | 63 | Utilities | |
| Chevron Corporation | -0.08 | 0.05 | 0.20 | 67 | Energy | |
| Exelon Corporation | -0.03 | 0.04 | 0.12 | 61 | Utilities |
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