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
59 ETFs have low correlation with BNS (below 0.3), 15 of which are negatively correlated. The least correlated is WisdomTree Floating Rate Treasury Fund (USFR) (Government Bonds) with a 1Y correlation of -0.18, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree Floating Rate Treasury Fund | -0.18 | -0.05 | -0.02 | 100 | Government Bonds, Ultrashort Bond | BNS vs USFR | |
| Invesco DB Commodity Index Tracking Fund | -0.18 | -0.01 | 0.16 | 56 | Commodities | BNS vs DBC | |
| State Street Energy Select Sector SPDR ETF | -0.17 | 0.09 | 0.30 | 59 | Energy Equities | BNS vs XLE | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.16 | -0.01 | 0.17 | 57 | Commodities | BNS vs PDBC | |
| Fidelity MSCI Energy Index ETF | -0.16 | 0.11 | 0.31 | 60 | Energy Equities | BNS vs FENY |
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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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.24, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.24 | 0.03 | 0.25 | 74 | Energy | |
| ConocoPhillips Company | -0.23 | 0.02 | 0.23 | 69 | Energy | |
| Equinor ASA | -0.23 | 0.06 | 0.20 | 77 | Energy | |
| Devon Energy Corporation | -0.19 | 0.06 | 0.24 | 76 | Energy | |
| BP p.l.c. | -0.17 | 0.08 | 0.29 | 77 | Energy |
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