Looking to balance out your exposure to BMY? The ETFs below have the lowest correlation with BMY — they tend to move on their own, which can help reduce risk when BMY drops. The stock ideas table highlights individual companies that behave independently from BMY.
Best Diversifiers for BMY
243 ETFs have low correlation with BMY (below 0.3), 37 of which are negatively correlated. The least correlated is ProShares Ultra Bloomberg Crude Oil (UCO) (Leveraged Commodities) with a 1Y correlation of -0.18, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Bloomberg Crude Oil | -0.18 | -0.10 | -0.02 | 54 | Leveraged Commodities | BMY vs UCO | |
| Invesco DB Energy Fund | -0.17 | -0.10 | -0.02 | 71 | Oil & Gas | BMY vs DBE | |
| United States Oil Fund LP | -0.16 | -0.09 | -0.02 | 66 | Oil & Gas | BMY vs USO | |
| Invesco DB Commodity Index Tracking Fund | -0.15 | -0.08 | -0.00 | 75 | Commodities | BMY vs DBC | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.11 | -0.08 | 0.00 | 74 | Commodities | BMY vs PDBC |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BMY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BMY and solid risk/return profiles. The least correlated is Credo Technology Group Holding Ltd (CRDO) (Technology) with a 1Y correlation of -0.16, roughly unchanged from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Credo Technology Group Holding Ltd | -0.16 | -0.11 | -0.06 | 85 | Technology | |
| NVIDIA Corporation | -0.11 | -0.13 | -0.05 | 78 | Technology | |
| Broadcom Inc. | -0.11 | -0.06 | 0.01 | 84 | Technology | |
| CrowdStrike Holdings, Inc. | -0.10 | -0.08 | -0.01 | 70 | Technology | |
| Fortinet, Inc. | -0.08 | -0.03 | 0.06 | 66 | Technology |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements BMY
Add BMY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with BMY