Looking to diversify beyond UMI? The ETFs below have historically moved differently from UMI, 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 UMI
1623 ETFs have low correlation with UMI (below 0.3), 1092 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2034 Municipal Bond ETF | -0.25 | — | — | 64 | Municipal Bonds | UMI vs BSMY | |
| BNY Mellon Ultra Short Income ETF | -0.23 | -0.06 | — | 99 | Ultrashort Bond | UMI vs BKUI | |
| Eaton Vance Intermediate Municipal Income ETF | -0.23 | — | — | 76 | Municipal Bonds | UMI vs EVIM | |
| Vanguard Tax-Exempt Bond ETF | -0.22 | 0.03 | 0.04 | 74 | Municipal Bonds | UMI vs VTEB | |
| Vanguard Core Tax-Exempt Bond ETF | -0.22 | -0.07 | -0.07 | 82 | Municipal Bonds | UMI vs VCRM |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for UMI, 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 Trinity Capital Inc. (TRIN) (Financial Services) with a 1Y correlation of -0.02, down from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Trinity Capital Inc. | -0.02 | 0.26 | 0.29 | 84 | Financial Services | |
| Sprott Physical Gold Trust | -0.00 | 0.13 | 0.17 | 64 | Financial Services | |
| Capital Southwest Corporation | 0.06 | 0.26 | 0.38 | 68 | Financial Services | |
| Simon Property Group, Inc. | 0.09 | 0.31 | 0.43 | 94 | Real Estate | |
| Linde plc | 0.13 | 0.22 | 0.32 | 51 | Basic Materials |
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