Looking to diversify beyond BYLD? The ETFs below have the lowest correlation with BYLD — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from BYLD.
Best Diversifiers for BYLD
434 ETFs have low correlation with BYLD (below 0.3), 92 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.45, roughly unchanged from -0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.45 | -0.39 | -0.44 | 63 | Leveraged Currency | BYLD vs YCS | |
| Defiance Oil Enhanced Options Income ETF | -0.42 | — | — | 56 | Derivative Income | BYLD vs USOY | |
| Invesco DB Energy Fund | -0.42 | -0.17 | -0.08 | 71 | Oil & Gas | BYLD vs DBE | |
| United States Brent Oil Fund LP | -0.41 | -0.17 | -0.09 | 65 | Oil & Gas | BYLD vs BNO | |
| United States Oil Fund LP | -0.41 | -0.17 | -0.09 | 66 | Oil & Gas | BYLD vs USO |
See all 2191 diversifiers for BYLD
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Diversification Analysis
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