Looking to balance out your exposure to MYRG? The ETFs below have the lowest correlation with MYRG — they tend to move on their own, which can help reduce risk when MYRG drops. The stock ideas table highlights individual companies that behave independently from MYRG.
Best Diversifiers for MYRG
0 ETFs have low correlation with MYRG (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.49, roughly unchanged from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.49 | 0.49 | 0.51 | 59 | S&P 500 | MYRG vs SPY | |
| iShares U.S. Digital Infrastructure and Real Estat... | 0.49 | 0.49 | 0.50 | 83 | Technology Equities | MYRG vs IDGT | |
| Direxion Daily Semiconductor Bull 3X ETF | 0.51 | 0.44 | 0.46 | 96 | Leveraged Equities, Semiconductors | MYRG vs SOXL | |
| Global X US Infrastructure Development ETF | 0.60 | 0.63 | 0.64 | 60 | Industrials Equities | MYRG vs PAVE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MYRG, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MYRG and solid risk/return profiles. The least correlated is HCI Group, Inc. (HCI) (Financial Services) with a 1Y correlation of 0.01, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| HCI Group, Inc. | 0.01 | 0.12 | 0.18 | 56 | Financial Services | |
| Sigma Lithium Resources Corp | 0.06 | 0.14 | 0.17 | 83 | Basic Materials | |
| Amgen Inc. | 0.11 | 0.14 | 0.17 | 74 | Healthcare | |
| Star Bulk Carriers Corp. | 0.14 | 0.16 | 0.20 | 89 | Industrials | |
| Catalyst Pharmaceuticals, Inc. | 0.17 | 0.24 | 0.26 | 79 | Healthcare |
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