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
6 ETFs have low correlation with BYND (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab Short-Term U.S. Treasury ETF (SCHO) (Government Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab Short-Term U.S. Treasury ETF | 0.16 | 0.08 | 0.08 | 76 | Government Bonds, Short-Term Bond | BYND vs SCHO | |
| Global X Lithium & Battery Tech ETF | 0.24 | 0.27 | 0.33 | 91 | Lithium & Battery Metals | BYND vs LIT | |
| Amplify Lithium & Battery Technology ETF | 0.27 | 0.32 | 0.39 | 77 | Lithium & Battery Metals | BYND vs BATT | |
| Invesco QQQ ETF | 0.28 | 0.28 | 0.38 | 59 | Nasdaq-100 | BYND vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.30 | 0.32 | 0.40 | 59 | S&P 500 | BYND vs SPY |
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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 Consolidated Edison, Inc. (ED) (Utilities) with a 1Y correlation of -0.07, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Consolidated Edison, Inc. | -0.07 | 0.01 | 0.03 | 61 | Utilities | |
| Tyson Foods, Inc. | 0.04 | 0.11 | 0.17 | 51 | Consumer Defensive | |
| Taboola.com Ltd. | 0.06 | 0.15 | 0.27 | 62 | Communication Services | |
| Olin Corporation | 0.07 | 0.20 | 0.25 | 51 | Basic Materials | |
| Dow Inc. | 0.07 | 0.19 | 0.24 | 55 | Basic Materials |
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