Looking to diversify beyond BSMS? The ETFs below have historically moved differently from BSMS, 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 BSMS
2020 ETFs have low correlation with BSMS (below 0.3), 112 of which are negatively correlated. The least correlated is Invesco DB Energy Fund (DBE) (Oil & Gas) with a 1Y correlation of -0.29, down from -0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Energy Fund | -0.29 | -0.14 | -0.10 | 66 | Oil & Gas | BSMS vs DBE | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.26 | -0.12 | -0.07 | 70 | Commodities | BSMS vs PDBC | |
| Invesco DB Oil Fund | -0.25 | -0.12 | -0.09 | 51 | Oil & Gas | BSMS vs DBO | |
| iShares S&P GSCI Commodity-Indexed Trust | -0.25 | -0.12 | -0.07 | 61 | Commodities | BSMS vs GSG | |
| iShares GSCI Commodity Dynamic Roll Strategy ETF | -0.23 | -0.12 | -0.07 | 56 | Commodities | BSMS vs COMT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BSMS, 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 Cencora Inc. (COR) (Healthcare) with a 1Y correlation of -0.07, roughly unchanged from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cencora Inc. | -0.07 | 0.05 | 0.03 | 50 | Healthcare | |
| McKesson Corporation | -0.05 | 0.01 | 0.00 | 62 | Healthcare | |
| NVIDIA Corporation | 0.01 | 0.04 | 0.04 | 61 | Technology | |
| Comfort Systems USA, Inc. | 0.02 | 0.09 | 0.06 | 95 | Industrials | |
| Flex Ltd. | 0.04 | 0.09 | 0.08 | 92 | Technology |
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