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), 0 of which are negatively correlated. The least correlated is Breakwave Tanker Shipping ETF (BWET) (Commodities) with a 1Y correlation of 0.02, roughly unchanged from 0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Breakwave Tanker Shipping ETF | 0.02 | 0.03 | — | 99 | Commodities | MXL vs BWET | |
| PIMCO Commodity Strategy Active Exchange-Traded Fu... | 0.07 | 0.14 | — | 65 | Commodities | MXL vs CMDT | |
| iShares North American Natural Resources ETF | 0.21 | 0.29 | 0.33 | 62 | Energy Equities | MXL vs IGE | |
| GraniteShares 2x Long DELL Daily ETF | 0.33 | — | — | 96 | Leveraged Equities | MXL vs DLLL | |
| Direxion Daily MU Bull 2X Shares | 0.35 | 0.43 | 0.43 | 99 | Leveraged Equities, Semiconductors | MXL vs MUU |
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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 Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of -0.03, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | -0.03 | 0.04 | 0.09 | 70 | Consumer Defensive | |
| Millicom International Cellular S.A. | 0.02 | 0.09 | 0.19 | 99 | Communication Services | |
| Par Pacific Holdings, Inc. | 0.08 | 0.16 | 0.25 | 85 | Energy | |
| JPMorgan Chase & Co. | 0.09 | 0.19 | 0.29 | 69 | Financial Services | |
| World Kinect Corporation | 0.12 | 0.24 | 0.28 | 68 | Energy |
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