Looking to balance out your exposure to BNL? The ETFs below have the lowest correlation with BNL — they tend to move on their own, which can help reduce risk when BNL drops. The stock ideas table highlights individual companies that behave independently from BNL.
Best Diversifiers for BNL
4 ETFs have low correlation with BNL (below 0.3), 0 of which are negatively correlated. The least correlated is Direxion Daily S&P 500 Bull 2x Shares (SPUU) (Leveraged Equities) with a 1Y correlation of 0.06, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Direxion Daily S&P 500 Bull 2x Shares | 0.06 | 0.27 | 0.40 | 63 | Leveraged Equities, S&P 500 | BNL vs SPUU | |
| NEOS S&P 500 High Income ETF | 0.07 | 0.26 | — | 71 | Derivative Income, S&P 500 | BNL vs SPYI | |
| State Street SPDR S&P 500 ETF | 0.07 | 0.27 | 0.41 | 70 | S&P 500 | BNL vs SPY | |
| Vanguard S&P 500 ETF | 0.07 | 0.27 | 0.41 | 70 | S&P 500 | BNL vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BNL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BNL and solid risk/return profiles. The least correlated is Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of -0.08, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | -0.08 | 0.04 | 0.18 | 84 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.04 | 0.04 | 0.17 | 95 | Technology | |
| Amazon.com, Inc | -0.03 | 0.04 | 0.20 | 60 | Consumer Cyclical | |
| CrowdStrike Holdings, Inc. | -0.02 | 0.04 | 0.14 | 70 | Technology | |
| Celestica Inc. | 0.01 | 0.03 | 0.16 | 94 | Technology |
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