Looking to balance out your exposure to BIOX? The ETFs below have the lowest correlation with BIOX — they tend to move on their own, which can help reduce risk when BIOX drops. The stock ideas table highlights individual companies that behave independently from BIOX.
Best Diversifiers for BIOX
1 ETFs have low correlation with BIOX (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.24, roughly unchanged from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.24 | 0.24 | 0.24 | 70 | S&P 500 | BIOX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BIOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BIOX and solid risk/return profiles. The least correlated is REX American Resources Corporation (REX) (Basic Materials) with a 1Y correlation of 0.12, roughly unchanged from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| REX American Resources Corporation | 0.12 | 0.18 | 0.18 | 96 | Basic Materials | |
| Amazon.com, Inc | 0.14 | 0.16 | 0.18 | 60 | Consumer Cyclical | |
| Green Plains Inc. | 0.23 | 0.22 | 0.21 | 96 | Basic Materials |
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