Looking to balance out your exposure to MU? The ETFs below have historically moved differently from MU, 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 MU
125 ETFs have low correlation with MU (below 0.3), 34 of which are negatively correlated. The least correlated is First Trust Morningstar Dividend Leaders Index Fund (FDL) (Large Cap Value Equities) with a 1Y correlation of -0.22, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Morningstar Dividend Leaders Index Fun... | -0.22 | 0.00 | 0.16 | 88 | Large Cap Value Equities, Dividend | MU vs FDL | |
| Franklin U.S. Low Volatility High Dividend Index E... | -0.22 | -0.06 | 0.10 | 58 | Dividend, Low Volatility | MU vs LVHD | |
| iShares Core High Dividend ETF | -0.21 | -0.02 | 0.14 | 90 | Dividend, Large Cap Value Equities | MU vs HDV | |
| Alerian MLP ETF | -0.16 | 0.11 | 0.20 | 63 | MLPs | MU vs AMLP | |
| Global X MLP & Energy Infrastructure ETF | -0.12 | 0.12 | 0.21 | 79 | Infrastructure Equities, MLPs | MU vs MLPX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MU, 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 Chubb Limited (CB) (Financial Services) with a 1Y correlation of -0.38, down from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chubb Limited | -0.38 | -0.16 | 0.01 | 90 | Financial Services | |
| Waste Management, Inc. | -0.37 | -0.16 | -0.05 | 53 | Industrials | |
| Arch Capital Group Ltd. | -0.36 | -0.14 | 0.02 | 69 | Financial Services | |
| Duke Energy Corporation | -0.31 | -0.24 | -0.13 | 66 | Utilities | |
| Altria Group, Inc. | -0.31 | -0.19 | -0.07 | 79 | Consumer Defensive |
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