Looking to balance out your exposure to BEP? The ETFs below have the lowest correlation with BEP — they tend to move on their own, which can help reduce risk when BEP drops. The stock ideas table highlights individual companies that behave independently from BEP.
Best Diversifiers for BEP
36 ETFs have low correlation with BEP (below 0.3), 5 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.
| 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 | 0.02 | 0.00 | 100 | Ultrashort Bond | BEP vs SGOV | |
| Fidelity MSCI Energy Index ETF | -0.04 | 0.10 | 0.16 | 51 | Energy Equities | BEP vs FENY | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.04 | -0.00 | 0.01 | 100 | Government Bonds, Ultrashort Bond | BEP vs BIL | |
| iShares 0-1 Year Treasury Bond ETF | -0.01 | 0.09 | 0.06 | 100 | Government Bonds, Ultrashort Bond | BEP vs SHV |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BEP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BEP and solid risk/return profiles. The least correlated is RenaissanceRe Holdings Ltd. (RNR) (Financial Services) with a 1Y correlation of -0.24, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RenaissanceRe Holdings Ltd. | -0.24 | -0.02 | 0.03 | 85 | Financial Services | |
| Verizon Communications Inc. | -0.14 | 0.08 | 0.08 | 57 | Communication Services | |
| The Coca-Cola Company | -0.13 | 0.07 | 0.12 | 83 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.11 | 0.05 | 0.10 | 75 | Energy | |
| EOG Resources, Inc. | -0.11 | 0.04 | 0.11 | 63 | Energy |
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Build a portfolio that complements BEP
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