Looking to balance out your exposure to BNS? The ETFs below have the lowest correlation with BNS — they tend to move on their own, which can help reduce risk when BNS drops. The stock ideas table highlights individual companies that behave independently from BNS.
Best Diversifiers for BNS
36 ETFs have low correlation with BNS (below 0.3), 5 of which are negatively correlated. The least correlated is WisdomTree Floating Rate Treasury Fund (USFR) (Government Bonds) with a 1Y correlation of -0.20, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree Floating Rate Treasury Fund | -0.20 | -0.04 | -0.03 | 100 | Government Bonds, Ultrashort Bond | BNS vs USFR | |
| Alpha Architect 1-3 Month Box ETF | -0.12 | 0.00 | — | 100 | Ultrashort Bond | BNS vs BOXX | |
| iShares 0-3 Month Treasury Bond ETF | -0.12 | -0.01 | -0.00 | 100 | Ultrashort Bond | BNS vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.08 | -0.07 | -0.01 | 100 | Government Bonds, Ultrashort Bond | BNS vs BIL | |
| iShares Treasury Floating Rate Bond ETF | -0.04 | -0.00 | -0.04 | 100 | Government Bonds, Ultrashort Bond | BNS vs TFLO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BNS, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BNS and solid risk/return profiles. The least correlated is Equinor ASA (EQNR) (Energy) with a 1Y correlation of -0.21, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinor ASA | -0.21 | 0.07 | 0.21 | 68 | Energy | |
| Chevron Corporation | -0.17 | 0.05 | 0.23 | 70 | Energy | |
| ConocoPhillips Company | -0.14 | 0.06 | 0.24 | 65 | Energy | |
| BP p.l.c. | -0.13 | 0.12 | 0.29 | 75 | Energy | |
| Suncor Energy Inc. | -0.11 | 0.15 | 0.34 | 84 | Energy |
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