Looking to diversify beyond BALQ? The ETFs below have the lowest correlation with BALQ — 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 BALQ.
Best Diversifiers for BALQ
255 ETFs have low correlation with BALQ (below 0.3), 41 of which are negatively correlated. The least correlated is YieldMax Short MSTR Option Income Strategy ETF (WNTR) (Derivative Income) with a 1Y correlation of -0.51, roughly unchanged from -0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax Short MSTR Option Income Strategy ETF | -0.51 | -0.51 | -0.51 | 51 | Derivative Income | BALQ vs WNTR | |
| USCF Midstream Energy Income Fund ETF | -0.23 | -0.23 | -0.23 | 60 | Energy Equities | BALQ vs UMI | |
| ProShares UltraShort Yen | -0.22 | -0.22 | -0.22 | 73 | Leveraged Currency | BALQ vs YCS | |
| First Trust Morningstar Dividend Leaders Index Fun... | -0.21 | -0.21 | -0.21 | 72 | Large Cap Value Equities, Dividend | BALQ vs FDL | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.20 | -0.20 | -0.20 | 97 | Inflation-Protected Bonds | BALQ vs RBIL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BALQ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BALQ and solid risk/return profiles. The least correlated is The Goldman Sachs Group, Inc. (GS) (Financial Services) with a 1Y correlation of 0.59, roughly unchanged from 0.59 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Goldman Sachs Group, Inc. | 0.59 | 0.59 | 0.59 | 89 | Financial Services | |
| BlackRock Science and Technology Trust | 0.81 | 0.81 | 0.81 | 86 | Financial Services |
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