Looking to balance out your exposure to BIP? The ETFs below have the lowest correlation with BIP — they tend to move on their own, which can help reduce risk when BIP drops. The stock ideas table highlights individual companies that behave independently from BIP.
Best Diversifiers for BIP
2 ETFs have low correlation with BIP (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.02, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.02 | 0.04 | -0.02 | 100 | Ultrashort Bond | BIP vs SGOV | |
| ProShares Ultra QQQ | 0.24 | 0.34 | 0.37 | 55 | Leveraged Equities | BIP vs QLD | |
| State Street SPDR S&P 500 ETF | 0.32 | 0.45 | 0.47 | 67 | S&P 500 | BIP vs SPY | |
| Vanguard Total Stock Market ETF | 0.34 | 0.47 | 0.49 | 67 | Large Cap Blend Equities | BIP vs VTI | |
| Vanguard FTSE Developed Markets ETF | 0.38 | 0.52 | 0.54 | 61 | Foreign Large Cap Equities | BIP vs VEA |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BIP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BIP and solid risk/return profiles. The least correlated is Canadian Utilities Limited (CDUAF) (Utilities) with a 1Y correlation of -0.01, down from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Utilities Limited | -0.01 | 0.25 | 0.28 | 95 | Utilities | |
| Devon Energy Corporation | -0.01 | 0.13 | 0.23 | 69 | Energy | |
| Chevron Corporation | -0.00 | 0.16 | 0.24 | 67 | Energy | |
| Omega Healthcare Investors, Inc. | 0.00 | 0.17 | 0.24 | 90 | Real Estate | |
| Exxon Mobil Corporation | 0.03 | 0.16 | 0.23 | 71 | Energy |
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