Looking to balance out your exposure to BNS? The ETFs below have historically moved differently from BNS, 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 BNS
58 ETFs have low correlation with BNS (below 0.3), 14 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.19, down from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.19 | 0.08 | 0.29 | 61 | Energy Equities | BNS vs XLE | |
| Invesco DB Commodity Index Tracking Fund | -0.19 | -0.03 | 0.15 | 59 | Commodities | BNS vs DBC | |
| Fidelity MSCI Energy Index ETF | -0.19 | 0.09 | 0.29 | 62 | Energy Equities | BNS vs FENY | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.18 | -0.03 | 0.15 | 60 | Commodities | BNS vs PDBC | |
| Vanguard Energy ETF | -0.17 | 0.09 | 0.30 | 61 | Energy Equities | BNS vs VDE |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BNS, 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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.28, down from 0.23 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.28 | 0.01 | 0.23 | 72 | Energy | |
| ConocoPhillips Company | -0.25 | 0.01 | 0.22 | 68 | Energy | |
| Equinor ASA | -0.23 | 0.04 | 0.19 | 82 | Energy | |
| Exxon Mobil Corporation | -0.21 | 0.03 | 0.23 | 84 | Energy | |
| Devon Energy Corporation | -0.20 | 0.04 | 0.23 | 71 | Energy |
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