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
4 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 0.21, down from 0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Technology Select Sector SPDR ETF | 0.21 | 0.31 | 0.42 | 82 | Technology Equities | BBY vs XLK | |
| Pacer Global Cash Cows Dividend ETF | 0.25 | 0.35 | 0.39 | 82 | Large Cap Value Equities, Dividend | BBY vs GCOW | |
| Invesco QQQ ETF | 0.25 | 0.34 | 0.45 | 74 | Nasdaq-100 | BBY vs QQQ | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.25 | 0.33 | — | 76 | Nasdaq-100, Derivative Income | BBY vs JEPQ | |
| Vanguard S&P 500 ETF | 0.35 | 0.44 | 0.52 | 74 | S&P 500 | BBY vs VOO |
To view more results, upgrade your current subscription plan.
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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.12, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.12 | 0.07 | 0.15 | 73 | Consumer Defensive | |
| British American Tobacco p.l.c. | -0.08 | 0.07 | 0.13 | 77 | Consumer Defensive | |
| Pembina Pipeline Corporation | -0.06 | 0.18 | 0.24 | 84 | Energy | |
| The Coca-Cola Company | -0.02 | 0.08 | 0.16 | 62 | Consumer Defensive | |
| Reaves Utility Income Trust | 0.00 | 0.17 | 0.25 | 79 | Financial Services |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements BBY
Add BBY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with BBY