Looking to balance out your exposure to BNED? The ETFs below have the lowest correlation with BNED — they tend to move on their own, which can help reduce risk when BNED drops. The stock ideas table highlights individual companies that behave independently from BNED.
Best Diversifiers for BNED
0 ETFs have low correlation with BNED (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.44, up from 0.33 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.44 | 0.24 | 0.33 | 66 | S&P 500 | BNED vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BNED, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BNED and solid risk/return profiles. The least correlated is Tesla, Inc. (TSLA) (Consumer Cyclical) with a 1Y correlation of 0.21, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tesla, Inc. | 0.21 | 0.20 | 0.26 | 64 | Consumer Cyclical |
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