Looking to balance out your exposure to BEP? The ETFs below have historically moved differently from BEP, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for BEP
36 ETFs have low correlation with BEP (below 0.3), 4 of which are negatively correlated. The least correlated is iShares Treasury Floating Rate Bond ETF (TFLO) (Government Bonds) with a 1Y correlation of -0.07, roughly unchanged from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Treasury Floating Rate Bond ETF | -0.07 | -0.02 | -0.04 | 100 | Government Bonds, Ultrashort Bond | BEP vs TFLO | |
| iShares 0-3 Month Treasury Bond ETF | -0.05 | 0.01 | -0.00 | 100 | Ultrashort Bond | BEP vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.03 | -0.00 | 0.01 | 100 | Government Bonds, Ultrashort Bond | BEP vs BIL | |
| Fidelity MSCI Energy Index ETF | -0.00 | 0.10 | 0.15 | 76 | Energy Equities | BEP vs FENY | |
| iShares 0-1 Year Treasury Bond ETF | 0.00 | 0.09 | 0.06 | 100 | Government Bonds, Ultrashort Bond | BEP vs SHV |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BEP, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is RenaissanceRe Holdings Ltd. (RNR) (Financial Services) with a 1Y correlation of -0.25, down from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RenaissanceRe Holdings Ltd. | -0.25 | -0.03 | 0.02 | 81 | Financial Services | |
| Verizon Communications Inc. | -0.16 | 0.05 | 0.07 | 66 | Communication Services | |
| The Coca-Cola Company | -0.16 | 0.04 | 0.11 | 90 | Consumer Defensive | |
| Visa Inc. | -0.14 | 0.06 | 0.14 | 53 | Financial Services | |
| Enterprise Products Partners L.P. | -0.11 | 0.11 | 0.18 | 89 | Energy |
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