Looking to balance out your exposure to BDX? The ETFs below have the lowest correlation with BDX — they tend to move on their own, which can help reduce risk when BDX drops. The stock ideas table highlights individual companies that behave independently from BDX.
Best Diversifiers for BDX
7 ETFs have low correlation with BDX (below 0.3), 1 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of -0.03, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.03 | -0.03 | -0.03 | 100 | Government Bonds, Ultrashort Bond | BDX vs BIL | |
| iShares 0-5 Year TIPS Bond ETF | 0.05 | 0.10 | 0.11 | 93 | Inflation-Protected Bonds | BDX vs STIP | |
| State Street Energy Select Sector SPDR ETF | 0.12 | 0.18 | 0.14 | 63 | Energy Equities | BDX vs XLE | |
| iShares 1-3 Year Treasury Bond ETF | 0.17 | 0.13 | 0.14 | 79 | Government Bonds, Short-Term Bond | BDX vs SHY | |
| Invesco QQQ ETF | 0.18 | 0.18 | 0.25 | 73 | Nasdaq-100 | BDX vs QQQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BDX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BDX and solid risk/return profiles. The least correlated is Fortinet, Inc. (FTNT) (Technology) with a 1Y correlation of -0.01, down from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortinet, Inc. | -0.01 | 0.11 | 0.17 | 66 | Technology | |
| Micron Technology, Inc. | -0.00 | 0.04 | 0.08 | 99 | Technology | |
| Broadcom Inc. | 0.01 | 0.05 | 0.13 | 84 | Technology | |
| Advanced Micro Devices, Inc. | 0.02 | 0.06 | 0.11 | 98 | Technology | |
| EOG Resources, Inc. | 0.02 | 0.07 | 0.08 | 69 | Energy |
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