Looking to balance out your exposure to BIP? The ETFs below have historically moved differently from BIP, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for BIP
4 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 -0.03, roughly unchanged from -0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.03 | 0.03 | -0.03 | 100 | Ultrashort Bond | BIP vs SGOV | |
| Fidelity MSCI Energy Index ETF | 0.06 | 0.22 | 0.29 | 76 | Energy Equities | BIP vs FENY | |
| State Street SPDR S&P 500 ETF | 0.29 | 0.44 | 0.47 | 67 | S&P 500 | BIP vs SPY | |
| Vanguard Total Stock Market ETF | 0.29 | 0.46 | 0.48 | 67 | Large Cap Blend Equities | BIP vs VTI | |
| Vanguard FTSE Developed Markets ETF | 0.33 | 0.51 | 0.53 | 75 | Foreign Large Cap Equities | BIP vs VEA |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BIP, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Devon Energy Corporation (DVN) (Energy) with a 1Y correlation of -0.00, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Devon Energy Corporation | -0.00 | 0.13 | 0.23 | 76 | Energy | |
| Omega Healthcare Investors, Inc. | 0.00 | 0.17 | 0.23 | 90 | Real Estate | |
| Chevron Corporation | 0.00 | 0.15 | 0.24 | 80 | Energy | |
| Canadian Utilities Limited | 0.01 | 0.24 | 0.28 | 98 | Utilities | |
| HF Sinclair Corp | 0.02 | 0.18 | 0.23 | 96 | Energy |
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