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), 46 of which are negatively correlated. The least correlated is Alerian Energy Infrastructure ETF (ENFR) (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 |
|---|---|---|---|---|---|---|---|
| Alerian Energy Infrastructure ETF | -0.26 | -0.26 | -0.26 | 57 | Energy Equities | BALQ vs ENFR | |
| Texas Capital Government Money Market ETF | -0.24 | -0.24 | -0.24 | 100 | Money Market | BALQ vs MMKT | |
| WisdomTree Floating Rate Treasury Fund | -0.24 | -0.24 | -0.24 | 100 | Government Bonds, Ultrashort Bond | BALQ vs USFR | |
| Global X MLP & Energy Infrastructure ETF | -0.23 | -0.23 | -0.23 | 55 | MLPs | BALQ vs MLPX | |
| USCF Midstream Energy Income Fund ETF | -0.23 | -0.23 | -0.23 | 62 | Energy Equities | BALQ vs UMI |
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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 | 90 | Financial Services | |
| BlackRock Science and Technology Trust | 0.81 | 0.81 | 0.81 | 88 | Financial Services |
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