Looking to balance out your exposure to FHB? The ETFs below have the lowest correlation with FHB — they tend to move on their own, which can help reduce risk when FHB drops. The stock ideas table highlights individual companies that behave independently from FHB.
Best Diversifiers for FHB
0 ETFs have low correlation with FHB (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 0.46, roughly unchanged from 0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.46 | 0.43 | 0.50 | 70 | S&P 500 | FHB vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FHB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FHB and solid risk/return profiles. The least correlated is Warrior Met Coal, Inc. (HCC) (Basic Materials) with a 1Y correlation of 0.08, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Warrior Met Coal, Inc. | 0.08 | 0.20 | 0.24 | 90 | Basic Materials | |
| Teekay Tankers Ltd. | 0.09 | 0.09 | 0.16 | 82 | Energy | |
| Zymeworks Inc. | 0.15 | 0.21 | 0.18 | 88 | Healthcare | |
| Tenaris S.A. | 0.19 | 0.29 | 0.36 | 94 | Energy | |
| Skyworks Solutions, Inc. | 0.33 | 0.37 | 0.40 | 52 | Technology |
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