Looking to balance out your exposure to BMY? The ETFs below have historically moved differently from BMY, 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 BMY
264 ETFs have low correlation with BMY (below 0.3), 78 of which are negatively correlated. The least correlated is Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) (Commodities) with a 1Y correlation of -0.18, down from -0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Optimum Yield Diversified Commodity Strate... | -0.18 | -0.11 | -0.01 | 70 | Commodities | BMY vs PDBC | |
| ProShares Ultra Semiconductors | -0.18 | -0.12 | -0.05 | 58 | Leveraged Equities, Semiconductors | BMY vs USD | |
| Invesco DB Commodity Index Tracking Fund | -0.18 | -0.11 | -0.02 | 68 | Commodities | BMY vs DBC | |
| Invesco DB Energy Fund | -0.18 | -0.12 | -0.04 | 66 | Oil & Gas | BMY vs DBE | |
| First Trust Global Tactical Commodity Strategy Fun... | -0.14 | -0.09 | 0.01 | 86 | Commodities | BMY vs FTGC |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BMY, 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 Credo Technology Group Holding Ltd (CRDO) (Technology) with a 1Y correlation of -0.19, down from -0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Credo Technology Group Holding Ltd | -0.19 | -0.13 | -0.08 | 77 | Technology | |
| Broadcom Inc. | -0.18 | -0.11 | -0.03 | 68 | Technology | |
| Ondas Holdings Inc. | -0.15 | 0.01 | 0.02 | 91 | Technology | |
| NVIDIA Corporation | -0.15 | -0.14 | -0.06 | 61 | Technology | |
| IREN Limited | -0.11 | -0.01 | -0.01 | 82 | Financial Services |
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