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
12 ETFs have low correlation with BEP (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 0.00, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.00 | 0.00 | 0.01 | 100 | Government Bonds, Ultrashort Bond | BEP vs BIL | |
| Global X MLP & Energy Infrastructure ETF | 0.04 | 0.22 | 0.26 | 55 | MLPs | BEP vs MLPX | |
| Schwab U.S. Dividend Equity ETF | 0.07 | 0.28 | 0.29 | 77 | Dividend | BEP vs SCHD | |
| VanEck IG Floating Rate ETF | 0.15 | 0.09 | 0.09 | 99 | Corporate Bonds, Ultrashort Bond | BEP vs FLTR | |
| SonicShares Global Shipping ETF | 0.16 | 0.23 | — | 78 | Transportation Equities | BEP vs BOAT |
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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 -0.22, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RenaissanceRe Holdings Ltd. | -0.22 | -0.01 | 0.03 | 75 | Financial Services | |
| Verizon Communications Inc. | -0.14 | 0.07 | 0.08 | 66 | Communication Services | |
| Exxon Mobil Corporation | -0.11 | 0.05 | 0.10 | 72 | Energy | |
| The Coca-Cola Company | -0.10 | 0.08 | 0.12 | 74 | Consumer Defensive | |
| Chevron Corporation | -0.10 | 0.05 | 0.11 | 70 | Energy |
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Build a portfolio that complements BEP
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