Looking to balance out your exposure to BYND? The ETFs below have the lowest correlation with BYND — they tend to move on their own, which can help reduce risk when BYND drops. The stock ideas table highlights individual companies that behave independently from BYND.
Best Diversifiers for BYND
4 ETFs have low correlation with BYND (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.27, down from 0.38 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.27 | 0.27 | 0.38 | 73 | Nasdaq-100 | BYND vs QQQ | |
| Amplify Lithium & Battery Technology ETF | 0.28 | 0.32 | 0.40 | 87 | Commodity Producers Equities | BYND vs BATT | |
| Vanguard S&P 500 ETF | 0.29 | 0.31 | 0.40 | 70 | S&P 500 | BYND vs VOO | |
| State Street SPDR S&P 500 ETF | 0.29 | 0.31 | 0.40 | 70 | S&P 500 | BYND vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BYND, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BYND and solid risk/return profiles. The least correlated is Taboola.com Ltd. (TBLA) (Communication Services) with a 1Y correlation of 0.07, down from 0.27 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Taboola.com Ltd. | 0.07 | 0.15 | 0.27 | 61 | Communication Services | |
| Olin Corporation | 0.08 | 0.20 | 0.24 | 59 | Basic Materials | |
| Dow Inc. | 0.08 | 0.20 | 0.23 | 60 | Basic Materials | |
| United Natural Foods, Inc. | 0.11 | 0.19 | 0.25 | 81 | Consumer Defensive | |
| Bristol-Myers Squibb Company | 0.11 | 0.11 | 0.10 | 63 | Healthcare |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements BYND
Add BYND to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with BYND