Looking to diversify beyond UMI? The ETFs below have the lowest correlation with UMI — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from UMI.
Best Diversifiers for UMI
1532 ETFs have low correlation with UMI (below 0.3), 904 of which are negatively correlated. The least correlated is BNY Mellon Ultra Short Income ETF (BKUI) (Ultrashort Bond) with a 1Y correlation of -0.24, down from -0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BNY Mellon Ultra Short Income ETF | -0.24 | -0.04 | — | 99 | Ultrashort Bond | UMI vs BKUI | |
| Eaton Vance Intermediate Municipal Income ETF | -0.19 | — | — | 74 | Municipal Bonds | UMI vs EVIM | |
| Schwab Municipal Bond ETF | -0.19 | 0.05 | — | 66 | Municipal Bonds | UMI vs SCMB | |
| Roundhill Weekly T-Bill ETF | -0.19 | — | — | 99 | Ultrashort Bond | UMI vs WEEK | |
| Franklin Short Duration U.S. Government ETF | -0.18 | -0.04 | -0.01 | 94 | Mortgage Backed Securities | UMI vs FTSD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from UMI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to UMI and solid risk/return profiles. The least correlated is DT Midstream, Inc. (DTM) (Energy) with a 1Y correlation of 0.73, roughly unchanged from 0.77 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| DT Midstream, Inc. | 0.73 | 0.77 | — | 87 | Energy |
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