Looking to balance out your exposure to BNY? The ETFs below have the lowest correlation with BNY — they tend to move on their own, which can help reduce risk when BNY drops. The stock ideas table highlights individual companies that behave independently from BNY.
Best Diversifiers for BNY
4 ETFs have low correlation with BNY (below 0.3), 2 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.14, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.14 | -0.06 | -0.02 | 100 | Ultrashort Bond | BNY vs SGOV | |
| US Treasury 3 Month Bill ETF | -0.05 | 0.01 | — | 100 | Ultrashort Bond | BNY vs TBIL | |
| SPDR Portfolio Short Term Corporate Bond ETF | 0.04 | 0.10 | 0.12 | 92 | Corporate Bonds | BNY vs SPSB | |
| Franklin FTSE Taiwan ETF | 0.29 | 0.31 | 0.40 | 96 | Asia Pacific Equities | BNY vs FLTW | |
| Vanguard Total International Stock ETF | 0.31 | 0.41 | 0.51 | 60 | Global Equities | BNY vs VXUS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BNY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BNY and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.09, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.09 | 0.12 | 0.18 | 53 | Utilities | |
| Diamondback Energy, Inc. | -0.03 | 0.17 | 0.30 | 82 | Energy | |
| Exxon Mobil Corporation | -0.02 | 0.20 | 0.32 | 85 | Energy | |
| The Hershey Company | -0.01 | 0.09 | 0.11 | 55 | Consumer Defensive | |
| Chevron Corporation | 0.01 | 0.24 | 0.34 | 83 | Energy |
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