Looking to balance out your exposure to BLDP? The ETFs below have the lowest correlation with BLDP — they tend to move on their own, which can help reduce risk when BLDP drops. The stock ideas table highlights individual companies that behave independently from BLDP.
Best Diversifiers for BLDP
0 ETFs have low correlation with BLDP (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 0.44, roughly unchanged from 0.49 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.44 | 0.40 | 0.49 | 70 | S&P 500 | BLDP vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BLDP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BLDP and solid risk/return profiles. The least correlated is Linde plc (LIN) (Basic Materials) with a 1Y correlation of 0.12, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Linde plc | 0.12 | 0.11 | 0.23 | 52 | Basic Materials | |
| Donaldson Company, Inc. | 0.26 | 0.32 | 0.36 | 64 | Industrials | |
| Shoals Technologies Group, Inc. | 0.39 | 0.45 | 0.53 | 83 | Technology | |
| Bloom Energy Corporation | 0.46 | 0.51 | 0.63 | 99 | Industrials | |
| Plug Power Inc. | 0.66 | 0.69 | 0.76 | 90 | Industrials |
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