Looking to balance out your exposure to BAX? The ETFs below have the lowest correlation with BAX — they tend to move on their own, which can help reduce risk when BAX drops. The stock ideas table highlights individual companies that behave independently from BAX.
Best Diversifiers for BAX
0 ETFs have low correlation with BAX (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.31, roughly unchanged from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.31 | 0.29 | 0.35 | 70 | S&P 500 | BAX vs SPY | |
| iShares Nasdaq Biotechnology ETF | 0.35 | 0.39 | 0.38 | 56 | Health & Biotech Equities | BAX vs IBB | |
| iShares Edge MSCI USA Value Factor ETF | 0.44 | 0.44 | 0.44 | 97 | Large Cap Value Equities | BAX vs VLUE |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BAX and solid risk/return profiles. The least correlated is Energy Transfer LP (ET) (Energy) with a 1Y correlation of 0.01, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | 0.01 | 0.10 | 0.14 | 69 | Energy | |
| Teva Pharmaceutical Industries Limited | 0.17 | 0.19 | 0.25 | 90 | Healthcare | |
| Edwards Lifesciences Corporation | 0.18 | 0.26 | 0.36 | 54 | Healthcare | |
| Bristol-Myers Squibb Company | 0.36 | 0.30 | 0.31 | 63 | Healthcare | |
| Pfizer Inc. | 0.44 | 0.37 | 0.34 | 61 | Healthcare |
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