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
55 ETFs have low correlation with BNS (below 0.3), 11 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.24, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.24 | -0.06 | 0.10 | 66 | Oil & Gas | BNS vs USO | |
| ProShares Ultra Bloomberg Crude Oil | -0.21 | -0.03 | 0.12 | 54 | Leveraged Commodities | BNS vs UCO | |
| Invesco DB Commodity Index Tracking Fund | -0.11 | 0.03 | 0.17 | 75 | Commodities | BNS vs DBC | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.09 | 0.05 | 0.18 | 74 | Commodities | BNS vs PDBC | |
| State Street Energy Select Sector SPDR ETF | -0.09 | 0.14 | 0.30 | 63 | Energy Equities | BNS vs XLE |
To view more results, upgrade your current subscription plan.
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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.20, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.20 | 0.09 | 0.27 | 83 | Energy | |
| Equinor ASA | -0.19 | 0.10 | 0.23 | 82 | Energy | |
| Exxon Mobil Corporation | -0.14 | 0.08 | 0.27 | 85 | Energy | |
| ConocoPhillips Company | -0.12 | 0.08 | 0.24 | 76 | Energy | |
| Altria Group, Inc. | -0.12 | 0.10 | 0.21 | 69 | Consumer Defensive |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements BNS
Add BNS to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with BNS