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
12 ETFs have low correlation with BDX (below 0.3), 0 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 0.05, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.05 | -0.01 | -0.02 | 100 | Government Bonds, Ultrashort Bond | BDX vs BIL | |
| Invesco QQQ ETF | 0.05 | 0.14 | 0.23 | 53 | Nasdaq-100 | BDX vs QQQ | |
| State Street Energy Select Sector SPDR ETF | 0.09 | 0.15 | 0.14 | 59 | Energy Equities | BDX vs XLE | |
| iShares 0-5 Year TIPS Bond ETF | 0.12 | 0.11 | 0.12 | 91 | Inflation-Protected Bonds | BDX vs STIP | |
| iShares S&P 100 ETF | 0.17 | 0.24 | 0.31 | 56 | Large Cap Blend Equities | BDX vs OEF |
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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 Micron Technology, Inc. (MU) (Technology) with a 1Y correlation of -0.07, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Micron Technology, Inc. | -0.07 | 0.02 | 0.07 | 99 | Technology | |
| Advanced Micro Devices, Inc. | -0.06 | 0.04 | 0.09 | 96 | Technology | |
| Broadcom Inc. | -0.06 | 0.03 | 0.11 | 67 | Technology | |
| Fortinet, Inc. | -0.04 | 0.09 | 0.16 | 76 | Technology | |
| NVIDIA Corporation | -0.02 | 0.01 | 0.08 | 63 | Technology |
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