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
11 ETFs have low correlation with BEP (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity MSCI Energy Index ETF (FENY) (Energy Equities) with a 1Y correlation of 0.01, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity MSCI Energy Index ETF | 0.01 | 0.12 | 0.16 | 64 | Energy Equities | BEP vs FENY | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.03 | 0.00 | 0.02 | 100 | Government Bonds, Ultrashort Bond | BEP vs BIL | |
| VanEck Vectors Investment Grade Floating Rate ETF | 0.11 | 0.09 | 0.09 | 99 | Corporate Bonds | BEP vs FLTR | |
| Schwab U.S. Dividend Equity ETF | 0.11 | 0.27 | 0.30 | 80 | Dividend | BEP vs SCHD | |
| SPDR Portfolio Short Term Corporate Bond ETF | 0.20 | 0.24 | 0.23 | 92 | Corporate Bonds | BEP vs SPSB |
To view more results, upgrade your current subscription plan.
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 -0.17, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RenaissanceRe Holdings Ltd. | -0.17 | 0.01 | 0.04 | 58 | Financial Services | |
| The Coca-Cola Company | -0.06 | 0.09 | 0.13 | 66 | Consumer Defensive | |
| AbbVie Inc. | -0.05 | 0.09 | 0.07 | 62 | Healthcare | |
| EOG Resources, Inc. | -0.05 | 0.06 | 0.11 | 69 | Energy | |
| Enterprise Products Partners L.P. | -0.04 | 0.14 | 0.19 | 85 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements BEP
Add BEP to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with BEP