Looking to balance out your exposure to MXL? The ETFs below have the lowest correlation with MXL — they tend to move on their own, which can help reduce risk when MXL drops. The stock ideas table highlights individual companies that behave independently from MXL.
Best Diversifiers for MXL
3 ETFs have low correlation with MXL (below 0.3), 1 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.09, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.09 | 0.06 | 0.10 | 66 | Oil & Gas | MXL vs USO | |
| PIMCO Commodity Strategy Active Exchange-Traded Fu... | 0.06 | 0.13 | 0.13 | 87 | Commodities | MXL vs CMDT | |
| iShares North American Natural Resources ETF | 0.20 | 0.29 | 0.33 | 88 | Energy Equities | MXL vs IGE | |
| iShares MSCI South Korea ETF | 0.31 | 0.35 | 0.42 | 96 | Asia Pacific Equities | MXL vs EWY | |
| Direxion Daily South Korea Bull 3X Shares | 0.31 | 0.35 | 0.43 | 97 | Leveraged Equities | MXL vs KORU |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MXL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MXL and solid risk/return profiles. The least correlated is Millicom International Cellular S.A. (TIGO) (Communication Services) with a 1Y correlation of 0.00, down from 0.20 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Millicom International Cellular S.A. | 0.00 | 0.10 | 0.20 | 98 | Communication Services | |
| Nexa Resources S.A. | 0.12 | 0.12 | 0.18 | 93 | Basic Materials | |
| Planet Labs PBC | 0.15 | 0.35 | 0.37 | 99 | Industrials | |
| Albemarle Corporation | 0.20 | 0.33 | 0.41 | 92 | Basic Materials | |
| Alphabet Inc. Class A | 0.21 | 0.24 | 0.40 | 96 | Communication Services |
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