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
323 ETFs have low correlation with BALQ (below 0.3), 83 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.45, roughly unchanged from -0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.45 | -0.45 | -0.45 | 66 | Oil & Gas | BALQ vs USO | |
| Defiance Oil Enhanced Options Income ETF | -0.42 | -0.42 | -0.42 | 56 | Derivative Income | BALQ vs USOY | |
| United States Gasoline Fund LP | -0.39 | -0.39 | -0.39 | 69 | Oil & Gas | BALQ vs UGA | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.39 | -0.39 | -0.39 | 55 | Oil & Gas | BALQ vs OILK | |
| ProShares Ultra Bloomberg Crude Oil | -0.38 | -0.38 | -0.38 | 54 | Leveraged Commodities | BALQ vs UCO |
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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 BlackRock Science and Technology Trust (BST) (Financial Services) with a 1Y correlation of 0.82, roughly unchanged from 0.82 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BlackRock Science and Technology Trust | 0.82 | 0.82 | 0.82 | 88 | Financial Services |
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