Looking to balance out your exposure to BYDIY? The ETFs below have the lowest correlation with BYDIY — they tend to move on their own, which can help reduce risk when BYDIY drops. The stock ideas table highlights individual companies that behave independently from BYDIY.
Best Diversifiers for BYDIY
2 ETFs have low correlation with BYDIY (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.24, up from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.24 | 0.14 | 0.11 | 70 | S&P 500 | BYDIY vs VOO | |
| iShares MSCI China A ETF | 0.27 | 0.22 | 0.18 | 71 | China Equities | BYDIY vs CNYA |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BYDIY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BYDIY and solid risk/return profiles. The least correlated is Apple Inc (AAPL) (Technology) with a 1Y correlation of 0.08, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Apple Inc | 0.08 | 0.02 | 0.03 | 89 | Technology | |
| Boyd Gaming Corporation | 0.14 | 0.09 | 0.06 | 61 | Consumer Cyclical | |
| NIO Inc. | 0.21 | 0.16 | 0.14 | 67 | Consumer Cyclical | |
| Tesla, Inc. | 0.22 | 0.07 | 0.06 | 55 | Consumer Cyclical |
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