Looking to balance out your exposure to BMY.L? The ETFs below have the lowest correlation with BMY.L — they tend to move on their own, which can help reduce risk when BMY.L drops. The stock ideas table highlights individual companies that behave independently from BMY.L.
Best Diversifiers for BMY.L
1 ETFs have low correlation with BMY.L (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 UCITS ETF (SPXP.L) (S&P 500) with a 1Y correlation of 0.19, roughly unchanged from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 UCITS ETF | 0.19 | 0.23 | 0.21 | 83 | S&P 500 | BMY.L vs SPXP.L |
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