Looking to balance out your exposure to MXL? The ETFs below have historically moved differently from MXL, 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 MXL
4 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 -0.06, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.06 | 0.07 | 0.10 | 55 | Oil & Gas | MXL vs USO | |
| Breakwave Tanker Shipping ETF | 0.06 | 0.04 | — | 99 | Commodities | MXL vs BWET | |
| PIMCO Commodity Strategy Active Exchange-Traded Fu... | 0.08 | 0.14 | — | 77 | Commodities | MXL vs CMDT | |
| iShares North American Natural Resources ETF | 0.19 | 0.28 | 0.32 | 84 | Energy Equities | MXL vs IGE | |
| GraniteShares 2x Long DELL Daily ETF | 0.36 | — | — | 94 | Leveraged Equities | MXL vs DLLL |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for MXL, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of -0.15, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | -0.15 | 0.04 | 0.19 | 61 | Financial Services | |
| Walmart Inc. | -0.11 | 0.00 | 0.07 | 62 | Consumer Defensive | |
| Molina Healthcare, Inc. | 0.02 | -0.03 | 0.07 | 59 | Healthcare | |
| Millicom International Cellular S.A. | 0.05 | 0.08 | 0.19 | 98 | Communication Services | |
| World Kinect Corporation | 0.08 | 0.22 | 0.26 | 85 | Energy |
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