Looking to balance out your exposure to GSBD? The ETFs below have the lowest correlation with GSBD — they tend to move on their own, which can help reduce risk when GSBD drops. The stock ideas table highlights individual companies that behave independently from GSBD.
Best Diversifiers for GSBD
3 ETFs have low correlation with GSBD (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity MSCI Information Technology Index ETF (FTEC) (Technology Equities) with a 1Y correlation of 0.19, down from 0.35 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity MSCI Information Technology Index ETF | 0.19 | 0.28 | 0.35 | 77 | Technology Equities | GSBD vs FTEC | |
| Global X NASDAQ 100 Covered Call ETF | 0.22 | 0.28 | 0.36 | 88 | Nasdaq-100, Derivative Income | GSBD vs QYLD | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.23 | 0.30 | — | 74 | Nasdaq-100, Derivative Income | GSBD vs JEPQ | |
| Vanguard Dividend Appreciation ETF | 0.32 | 0.40 | 0.46 | 56 | Dividend | GSBD vs VIG | |
| State Street SPDR S&P 500 ETF | 0.33 | 0.40 | 0.46 | 70 | S&P 500 | GSBD vs SPY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from GSBD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to GSBD and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.07, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.07 | 0.07 | 0.16 | 69 | Consumer Defensive | |
| AGNC Investment Corp. | 0.09 | 0.09 | 0.14 | 89 | Real Estate | |
| NVIDIA Corporation | 0.10 | 0.18 | 0.26 | 78 | Technology | |
| Amazon.com, Inc | 0.16 | 0.24 | 0.29 | 60 | Consumer Cyclical | |
| Alphabet Inc. Class A | 0.17 | 0.19 | 0.28 | 96 | Communication Services |
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