Looking to balance out your exposure to BWLP? The ETFs below have the lowest correlation with BWLP — they tend to move on their own, which can help reduce risk when BWLP drops. The stock ideas table highlights individual companies that behave independently from BWLP.
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 0.07, roughly unchanged from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.07 | 0.11 | 0.11 | 74 | S&P 500 | BWLP vs SPY | |
| Goldman Sachs S&P 500 Premium Income ETF | 0.07 | — | — | 79 | Derivative Income, S&P 500 | BWLP vs GPIX | |
| iShares MSCI Poland ETF | 0.08 | 0.15 | 0.14 | 57 | Europe Equities | BWLP vs EPOL | |
| iShares MSCI Austria ETF | 0.12 | 0.17 | 0.15 | 69 | Europe Equities | BWLP vs EWO | |
| iShares MSCI Japan ETF | 0.12 | 0.14 | 0.11 | 51 | Japan Equities | BWLP vs EWJ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BWLP, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BWLP and solid risk/return profiles. The least correlated is Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.03, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.03 | 0.07 | 0.05 | 75 | Healthcare | |
| Orient Overseas International Ltd ADR | 0.02 | 0.05 | 0.05 | 57 | Industrials | |
| Ero Copper Corp | 0.06 | 0.13 | 0.13 | 79 | Basic Materials | |
| Broadcom Inc. | 0.06 | 0.05 | 0.04 | 76 | Technology | |
| Symbotic Inc | 0.06 | 0.11 | 0.08 | 65 | Industrials |
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