Looking to balance out your exposure to BWLP? The ETFs below have historically moved differently from BWLP, 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 BWLP
16 ETFs have low correlation with BWLP (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.08, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.08 | 0.11 | 0.10 | 67 | S&P 500 | BWLP vs SPY | |
| Goldman Sachs S&P 500 Premium Income ETF | 0.08 | — | — | 78 | Derivative Income, S&P 500 | BWLP vs GPIX | |
| Sprott Junior Copper Miners ETF | 0.10 | 0.19 | — | 68 | Copper | BWLP vs COPJ | |
| iShares MSCI Europe Financials ETF | 0.11 | 0.13 | 0.12 | 74 | Financials Equities | BWLP vs EUFN | |
| WisdomTree Japan Hedged Equity Fund | 0.12 | 0.16 | 0.12 | 93 | Japan Equities, Asia Pacific Equities | BWLP vs DXJ |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for BWLP, 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 Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.09, down from 0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.09 | 0.06 | 0.04 | 83 | Healthcare | |
| ChipMOS TECHNOLOGIES INC. | -0.02 | 0.08 | 0.06 | 93 | Technology | |
| Orient Overseas International Ltd ADR | 0.02 | 0.04 | 0.05 | 66 | Industrials | |
| RTX Corporation | 0.03 | 0.09 | 0.07 | 82 | Industrials | |
| LiveRamp Holdings, Inc. | 0.03 | 0.07 | 0.06 | 57 | Technology |
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