Looking to balance out your exposure to MZTI? The ETFs below have the lowest correlation with MZTI — they tend to move on their own, which can help reduce risk when MZTI drops. The stock ideas table highlights individual companies that behave independently from MZTI.
Best Diversifiers for MZTI
1 ETFs have low correlation with MZTI (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 0.15, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.15 | 0.23 | 0.25 | 74 | S&P 500 | MZTI vs SPY | |
| Schwab U.S. Dividend Equity ETF | 0.36 | 0.38 | 0.38 | 85 | Dividend | MZTI vs SCHD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from MZTI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to MZTI and solid risk/return profiles. The least correlated is Nucor Corporation (NUE) (Basic Materials) with a 1Y correlation of 0.07, roughly unchanged from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Nucor Corporation | 0.07 | 0.12 | 0.16 | 96 | Basic Materials | |
| Archer-Daniels-Midland Company | 0.07 | 0.17 | 0.23 | 94 | Consumer Defensive | |
| Parker-Hannifin Corporation | 0.12 | 0.19 | 0.23 | 75 | Industrials | |
| Walmart Inc. | 0.13 | 0.16 | 0.23 | 66 | Consumer Defensive | |
| Canadian Utilities Limited | 0.14 | 0.14 | 0.14 | 91 | Utilities |
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