Looking to balance out your exposure to BLX? The ETFs below have the lowest correlation with BLX — they tend to move on their own, which can help reduce risk when BLX drops. The stock ideas table highlights individual companies that behave independently from BLX.
Best Diversifiers for BLX
2 ETFs have low correlation with BLX (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.23, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.23 | 0.33 | 0.37 | 70 | Momentum, S&P 500 | BLX vs SPMO | |
| Schwab U.S. Dividend Equity ETF | 0.29 | 0.40 | 0.45 | 77 | Dividend | BLX vs SCHD | |
| Vanguard S&P 500 ETF | 0.30 | 0.38 | 0.40 | 60 | S&P 500 | BLX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.31 | 0.38 | 0.40 | 60 | S&P 500 | BLX vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BLX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BLX and solid risk/return profiles. The least correlated is Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.04, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.04 | 0.16 | 0.25 | 70 | Energy | |
| Broadcom Inc. | 0.01 | 0.17 | 0.22 | 71 | Technology | |
| Walmart Inc. | 0.03 | 0.11 | 0.13 | 70 | Consumer Defensive | |
| American Electric Power Company, Inc. | 0.03 | 0.11 | 0.14 | 87 | Utilities | |
| Enterprise Products Partners L.P. | 0.05 | 0.19 | 0.26 | 81 | Energy |
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