Looking to diversify beyond BNO? The ETFs below have the lowest correlation with BNO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from BNO.
Best Diversifiers for BNO
2049 ETFs have low correlation with BNO (below 0.3), 1978 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Avantis Credit ETF | -0.46 | — | — | 53 | Global Bonds | BNO vs AVGB | |
| Neos Enhanced Income Aggregate Bond ETF | -0.44 | -0.22 | — | 50 | Intermediate Core-Plus Bond | BNO vs BNDI | |
| Astoria Dynamic Core US Fixed Income ETF | -0.43 | — | — | 73 | Multisector Bonds | BNO vs AGGA | |
| iShares J.P. Morgan USD Emerging Markets Bond ETF | -0.43 | -0.14 | -0.05 | 61 | Emerging Markets Bonds | BNO vs EMB | |
| SPDR Loomis Sayles Opportunistic Bond ETF | -0.42 | -0.17 | — | 58 | Nontraditional Bonds | BNO vs OBND |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BNO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BNO and solid risk/return profiles. The least correlated is Kenon Holdings Ltd. (KEN) (Utilities) with a 1Y correlation of -0.14, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Kenon Holdings Ltd. | -0.14 | -0.01 | 0.07 | 95 | Utilities | |
| NVIDIA Corporation | -0.08 | -0.01 | 0.05 | 78 | Technology | |
| Frontline Ltd. | 0.07 | 0.23 | 0.26 | 89 | Energy | |
| Enerflex Ltd. | 0.30 | 0.32 | 0.34 | 99 | Energy | |
| Phillips 66 | 0.40 | 0.39 | 0.45 | 87 | Energy |
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