Looking to balance out your exposure to BYRN? The ETFs below have the lowest correlation with BYRN — they tend to move on their own, which can help reduce risk when BYRN drops. The stock ideas table highlights individual companies that behave independently from BYRN.
Best Diversifiers for BYRN
0 ETFs have low correlation with BYRN (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.33, roughly unchanged from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.33 | 0.29 | 0.31 | 70 | S&P 500 | BYRN vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BYRN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BYRN and solid risk/return profiles. The least correlated is Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of -0.08, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | -0.08 | 0.05 | 0.09 | 63 | Consumer Defensive | |
| Hachijuni Bank Ltd ADR | -0.02 | -0.05 | -0.04 | 83 | Financial Services | |
| Eli Lilly and Company | 0.00 | 0.05 | 0.08 | 72 | Healthcare | |
| Compañía de Minas Buenaventura S.A.A. | 0.07 | 0.10 | 0.09 | 87 | Basic Materials | |
| Select Energy Services, Inc. | 0.07 | 0.15 | 0.13 | 93 | Energy |
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