Looking to balance out your exposure to BNGO? The ETFs below have historically moved differently from BNGO, 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 BNGO
1 ETFs have low correlation with BNGO (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.28, down from 0.44 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.28 | 0.35 | 0.44 | 67 | S&P 500 | BNGO vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BNGO, 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 Energy Transfer LP (ET) (Energy) with a 1Y correlation of -0.02, down from 0.20 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | -0.02 | 0.13 | 0.20 | 81 | Energy | |
| Borr Drilling Ltd | 0.12 | 0.20 | 0.21 | 84 | Energy | |
| Pfizer Inc. | 0.17 | 0.23 | 0.19 | 64 | Healthcare | |
| Cleveland-Cliffs Inc. | 0.21 | 0.26 | 0.32 | 50 | Basic Materials | |
| Ford Motor Company | 0.22 | 0.26 | 0.36 | 78 | Consumer Cyclical |
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