Looking to balance out your exposure to BBY? The ETFs below have the lowest correlation with BBY — they tend to move on their own, which can help reduce risk when BBY drops. The stock ideas table highlights individual companies that behave independently from BBY.
Best Diversifiers for BBY
6 ETFs have low correlation with BBY (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 0.17, down from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Technology Select Sector SPDR ETF | 0.17 | 0.30 | 0.41 | 61 | Technology Equities | BBY vs XLK | |
| Global X Lithium & Battery Tech ETF | 0.18 | 0.30 | 0.35 | 82 | Lithium & Battery Metals | BBY vs LIT | |
| Global X Artificial Intelligence & Technology ETF | 0.18 | 0.33 | 0.43 | 52 | Technology Equities | BBY vs AIQ | |
| Pacer Global Cash Cows Dividend ETF | 0.19 | 0.34 | 0.38 | 75 | Large Cap Value Equities, Dividend | BBY vs GCOW | |
| Invesco QQQ ETF | 0.22 | 0.34 | 0.44 | 59 | Nasdaq-100 | BBY vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BBY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BBY and solid risk/return profiles. The least correlated is Pembina Pipeline Corporation (PBA) (Energy) with a 1Y correlation of -0.11, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Pembina Pipeline Corporation | -0.11 | 0.15 | 0.23 | 90 | Energy | |
| Altria Group, Inc. | -0.07 | 0.06 | 0.14 | 77 | Consumer Defensive | |
| Enterprise Products Partners L.P. | -0.07 | 0.15 | 0.24 | 86 | Energy | |
| Energy Transfer LP | -0.06 | 0.16 | 0.23 | 81 | Energy | |
| Exxon Mobil Corporation | -0.06 | 0.11 | 0.18 | 77 | Energy |
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Build a portfolio that complements BBY
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