Looking to diversify beyond BALQ? The ETFs below have historically moved differently from BALQ, 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 BALQ
447 ETFs have low correlation with BALQ (below 0.3), 89 of which are negatively correlated. The least correlated is Westwood Salient Enhanced Midstream Income ETF (MDST) (Energy Equities) with a 1Y correlation of -0.30, roughly unchanged from -0.30 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Westwood Salient Enhanced Midstream Income ETF | -0.30 | -0.30 | -0.30 | 61 | Energy Equities | BALQ vs MDST | |
| ProShares Ultra Energy | -0.24 | -0.24 | -0.24 | 56 | Leveraged Equities | BALQ vs DIG | |
| State Street Energy Select Sector SPDR ETF | -0.24 | -0.24 | -0.24 | 61 | Energy Equities | BALQ vs XLE | |
| Direxion Daily Energy Bull 2X Shares | -0.23 | -0.23 | -0.23 | 56 | Energy Equities, Leveraged Equities | BALQ vs ERX | |
| Alerian MLP ETF | -0.23 | -0.23 | -0.23 | 55 | MLPs | BALQ vs AMLP |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BALQ, 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 The Goldman Sachs Group, Inc. (GS) (Financial Services) with a 1Y correlation of 0.61, roughly unchanged from 0.61 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Goldman Sachs Group, Inc. | 0.61 | 0.61 | 0.61 | 83 | Financial Services | |
| BlackRock Enhanced Large Cap Core Fund, Inc. | 0.68 | 0.68 | 0.68 | 88 | ||
| KLA Corporation | 0.72 | 0.72 | 0.72 | 87 | Technology | |
| BlackRock Science and Technology Trust | 0.84 | 0.84 | 0.84 | 84 | Financial Services |
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