Looking to balance out your exposure to BYDDF? The ETFs below have the lowest correlation with BYDDF — they tend to move on their own, which can help reduce risk when BYDDF drops. The stock ideas table highlights individual companies that behave independently from BYDDF.
Best Diversifiers for BYDDF
6 ETFs have low correlation with BYDDF (below 0.3), 0 of which are negatively correlated. The least correlated is iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) (Emerging Markets Bonds) with a 1Y correlation of 0.24, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares J.P. Morgan USD Emerging Markets Bond ETF | 0.24 | 0.20 | 0.22 | 61 | Emerging Markets Bonds | BYDDF vs EMB | |
| iShares MSCI Poland ETF | 0.26 | 0.26 | 0.30 | 55 | Europe Equities | BYDDF vs EPOL | |
| Global X FTSE Southeast Asia ETF | 0.26 | 0.24 | 0.28 | 56 | Asia Pacific Equities | BYDDF vs ASEA | |
| iShares Latin American 40 ETF | 0.27 | 0.30 | 0.30 | 54 | Latin America Equities | BYDDF vs ILF | |
| Vanguard S&P 500 ETF | 0.29 | 0.25 | 0.30 | 70 | S&P 500 | BYDDF vs VOO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BYDDF, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BYDDF and solid risk/return profiles. The least correlated is Coca-Cola Consolidated, Inc. (COKE) (Consumer Defensive) with a 1Y correlation of -0.09, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Coca-Cola Consolidated, Inc. | -0.09 | 0.00 | 0.06 | 80 | Consumer Defensive | |
| Adaro Energy Tbk PT ADR | 0.02 | -0.03 | -0.02 | 56 | Energy | |
| Frontline Ltd. | 0.06 | 0.08 | 0.15 | 89 | Energy | |
| Johnson & Johnson | 0.10 | 0.05 | 0.02 | 92 | Healthcare | |
| Amazon.com, Inc | 0.11 | 0.13 | 0.24 | 60 | Consumer Cyclical |
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