Looking to balance out your exposure to BP? The ETFs below have historically moved differently from BP, 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 BP
264 ETFs have low correlation with BP (below 0.3), 180 of which are negatively correlated. The least correlated is PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) (Multisector Bonds) with a 1Y correlation of -0.28, down from -0.08 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| PIMCO Multisector Bond Active Exchange-Traded Fund | -0.28 | -0.08 | — | 58 | Multisector Bonds | BP vs PYLD | |
| Vanguard Short-Term Bond Index Fund ETF Shares | -0.28 | -0.14 | -0.11 | 54 | Short-Term Bond | BP vs BSV | |
| Vanguard Short-Term Corporate Bond ETF | -0.28 | -0.10 | -0.04 | 68 | Corporate Bonds | BP vs VCSH | |
| iShares National AMT-Free Muni Bond ETF | -0.28 | -0.10 | -0.08 | 56 | Municipal Bonds | BP vs MUB | |
| Vanguard Short-Term Treasury ETF | -0.28 | -0.16 | -0.12 | 86 | Government Bonds, Short-Term Bond | BP vs VGSH |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BP, 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 JetBlue Airways Corporation (JBLU) (Industrials) with a 1Y correlation of -0.26, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| JetBlue Airways Corporation | -0.26 | 0.00 | 0.12 | 67 | Industrials | |
| Monster Beverage Corporation | -0.19 | -0.03 | 0.02 | 92 | Consumer Defensive | |
| The Bank of Nova Scotia | -0.18 | 0.07 | 0.28 | 97 | Financial Services | |
| Apple Inc | -0.17 | 0.02 | 0.13 | 90 | Technology | |
| Visa Inc. | -0.17 | 0.00 | 0.15 | 56 | Financial Services |
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