Looking to diversify beyond BIS? The ETFs below have historically moved differently from BIS, 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 BIS
2238 ETFs have low correlation with BIS (below 0.3), 2138 of which are negatively correlated. The least correlated is ProShares Ultra Nasdaq Biotechnology (BIB) (Leveraged Equities) with a 1Y correlation of -1.00, roughly unchanged from -1.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Nasdaq Biotechnology | -1.00 | -1.00 | -1.00 | 89 | Leveraged Equities | BIS vs BIB | |
| Invesco Nasdaq Biotechnology ETF | -0.99 | -0.99 | -0.99 | 91 | Health & Biotech Equities | BIS vs IBBQ | |
| iShares Nasdaq Biotechnology ETF | -0.99 | -0.98 | -0.98 | 86 | Health & Biotech Equities | BIS vs IBB | |
| Direxion Daily S&P Biotech Bull 3x Shares | -0.92 | -0.93 | -0.91 | 94 | Leveraged Equities | BIS vs LABU | |
| SPDR S&P Biotech ETF | -0.92 | -0.92 | -0.91 | 94 | Health & Biotech Equities | BIS vs XBI |
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