Looking to diversify beyond HARD? The ETFs below have the lowest correlation with HARD — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from HARD.
Best Diversifiers for HARD
1910 ETFs have low correlation with HARD (below 0.3), 1522 of which are negatively correlated. The least correlated is iShares Yield Optimized Bond ETF (BYLD) (Intermediate Core-Plus Bond) with a 1Y correlation of -0.31, down from -0.07 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Yield Optimized Bond ETF | -0.31 | -0.07 | — | 52 | Intermediate Core-Plus Bond | HARD vs BYLD | |
| Invesco BulletShares 2032 Municipal Bond ETF | -0.29 | -0.07 | — | 68 | Municipal Bonds | HARD vs BSMW | |
| Avantis Credit ETF | -0.28 | — | — | 53 | Global Bonds | HARD vs AVGB | |
| iShares Investment Grade Corporate Bond Buywrite S... | -0.27 | -0.07 | — | 57 | Corporate Bonds | HARD vs LQDW | |
| Invesco Emerging Markets Sovereign Debt ETF | -0.27 | -0.02 | — | 58 | Emerging Markets Bonds | HARD vs PCY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HARD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HARD and solid risk/return profiles. The least correlated is Amazon.com, Inc (AMZN) (Consumer Cyclical) with a 1Y correlation of -0.04, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Amazon.com, Inc | -0.04 | 0.06 | 0.07 | 54 | Consumer Cyclical | |
| Innovative Industrial Properties, Inc. | -0.01 | 0.03 | 0.03 | 60 | Real Estate | |
| Cohen & Steers Quality Income Realty Fund | -0.00 | 0.04 | 0.02 | 57 | Financial Services | |
| Lockheed Martin Corporation | 0.09 | 0.03 | 0.02 | 51 | Industrials | |
| Franco-Nevada Corporation | 0.14 | 0.16 | 0.15 | 64 | Basic Materials |
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Build a portfolio that complements HARD
Add HARD to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HARD