Looking to diversify beyond BNOV? The ETFs below have historically moved differently from BNOV, 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 BNOV
443 ETFs have low correlation with BNOV (below 0.3), 91 of which are negatively correlated. The least correlated is Defiance Daily Target 2X Short MSTR ETF (SMST) (Inverse Equities) with a 1Y correlation of -0.45, roughly unchanged from -0.42 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.45 | -0.42 | -0.42 | 52 | Inverse Equities | BNOV vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.45 | -0.41 | -0.41 | 61 | Inverse Equities, Leveraged Equities | BNOV vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.44 | -0.46 | -0.46 | 75 | Derivative Income | BNOV vs WNTR | |
| ProShares Short Bitcoin ETF | -0.44 | -0.33 | — | 61 | Cryptocurrency | BNOV vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.43 | -0.39 | -0.39 | 55 | Cryptocurrency, Leveraged Cryptocurrency | BNOV vs SBIT |
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