Looking to balance out your exposure to GBDC? The ETFs below have historically moved differently from GBDC, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for GBDC
14 ETFs have low correlation with GBDC (below 0.3), 0 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of 0.04, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | 0.04 | 0.06 | 0.02 | 100 | Ultrashort Bond | GBDC vs SGOV | |
| iShares AAA CLO Active ETF | 0.07 | 0.07 | — | 99 | CLO | GBDC vs CLOA | |
| iShares Semiconductor ETF | 0.13 | 0.22 | 0.28 | 90 | Semiconductors, Technology Equities | GBDC vs SOXX | |
| Janus Henderson AAA CLO ETF | 0.13 | 0.09 | 0.07 | 99 | CLO | GBDC vs JAAA | |
| Schwab Short-Term U.S. Treasury ETF | 0.21 | 0.01 | -0.00 | 86 | Government Bonds, Short-Term Bond | GBDC vs SCHO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for GBDC, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Cencora Inc. (COR) (Healthcare) with a 1Y correlation of -0.08, down from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cencora Inc. | -0.08 | 0.00 | 0.10 | 50 | Healthcare | |
| TC Energy Corporation | -0.02 | 0.16 | 0.22 | 93 | Energy | |
| Altria Group, Inc. | -0.01 | 0.05 | 0.12 | 66 | Consumer Defensive | |
| Kinder Morgan, Inc. | 0.00 | 0.18 | 0.28 | 69 | Energy | |
| The Andersons, Inc. | 0.01 | 0.23 | 0.24 | 96 | Consumer Defensive |
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