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
387 ETFs have low correlation with BALQ (below 0.3), 76 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.26, roughly unchanged from -0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.26 | -0.26 | -0.26 | 59 | Energy Equities | BALQ vs XLE | |
| Pacer American Energy Independence ETF | -0.25 | -0.25 | -0.25 | 50 | Energy Equities | BALQ vs USAI | |
| Direxion Daily Energy Bull 2X Shares | -0.25 | -0.25 | -0.25 | 54 | Leveraged Equities | BALQ vs ERX | |
| ETRACS Alerian MLP Infrastructure Index ETN Series... | -0.25 | -0.25 | -0.25 | 61 | MLPs | BALQ vs MLPB | |
| iShares U.S. Energy ETF | -0.25 | -0.25 | -0.25 | 60 | Energy Equities | BALQ vs IYE |
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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 0.57, roughly unchanged from 0.57 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Goldman Sachs Group, Inc. | 0.57 | 0.57 | 0.57 | 88 | Financial Services | |
| BlackRock Science and Technology Trust | 0.82 | 0.82 | 0.82 | 82 | Financial Services |
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