Looking to balance out your exposure to BBIO? The ETFs below have the lowest correlation with BBIO — they tend to move on their own, which can help reduce risk when BBIO drops. The stock ideas table highlights individual companies that behave independently from BBIO.
Best Diversifiers for BBIO
1 ETFs have low correlation with BBIO (below 0.3), 0 of which are negatively correlated. The least correlated is State Street Technology Select Sector SPDR ETF (XLK) (Technology Equities) with a 1Y correlation of 0.29, roughly unchanged from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Technology Select Sector SPDR ETF | 0.29 | 0.29 | 0.34 | 82 | Technology Equities | BBIO vs XLK | |
| Invesco PHLX Semiconductor ETF | 0.31 | 0.31 | — | 96 | Semiconductors, Technology Equities | BBIO vs SOXQ | |
| State Street SPDR S&P 500 ETF | 0.34 | 0.38 | 0.40 | 74 | S&P 500 | BBIO vs SPY | |
| SPDR S&P Biotech ETF | 0.50 | 0.59 | 0.66 | 80 | Health & Biotech Equities | BBIO vs XBI |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BBIO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BBIO and solid risk/return profiles. The least correlated is Vista Oil & Gas, S.A.B. de C.V. (VIST) (Energy) with a 1Y correlation of -0.06, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Vista Oil & Gas, S.A.B. de C.V. | -0.06 | 0.06 | 0.09 | 72 | Energy | |
| Seadrill Limited | 0.04 | 0.13 | — | 88 | Energy | |
| Cardinal Health, Inc. | 0.06 | 0.09 | 0.10 | 73 | Healthcare | |
| The Williams Companies, Inc. | 0.07 | 0.12 | 0.14 | 71 | Energy | |
| Equinox Gold Corp. | 0.09 | 0.13 | 0.16 | 70 | Basic Materials |
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