Looking to balance out your exposure to BNGO? The ETFs below have the lowest correlation with BNGO — they tend to move on their own, which can help reduce risk when BNGO drops. The stock ideas table highlights individual companies that behave independently from BNGO.
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 0.27, down from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.27 | 0.36 | 0.44 | 70 | S&P 500 | BNGO vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BNGO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BNGO and solid risk/return profiles. The least correlated is Energy Transfer LP (ET) (Energy) with a 1Y correlation of 0.01, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Energy Transfer LP | 0.01 | 0.14 | 0.21 | 69 | Energy | |
| NIO Inc. | 0.08 | 0.26 | 0.42 | 67 | Consumer Cyclical | |
| Borr Drilling Ltd | 0.13 | 0.20 | 0.21 | 91 | Energy | |
| Pfizer Inc. | 0.20 | 0.24 | 0.19 | 61 | Healthcare | |
| Ford Motor Company | 0.21 | 0.25 | 0.36 | 82 | Consumer Cyclical |
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