Looking to diversify beyond HARD? The ETFs below have historically moved differently from HARD, 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 HARD
2150 ETFs have low correlation with HARD (below 0.3), 1792 of which are negatively correlated. The least correlated is Invesco BulletShares 2032 Municipal Bond ETF (BSMW) (Municipal Bonds) with a 1Y correlation of -0.28, down from -0.09 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco BulletShares 2032 Municipal Bond ETF | -0.28 | -0.09 | — | 65 | Municipal Bonds | HARD vs BSMW | |
| Allspring Income Plus ETF | -0.28 | -0.15 | -0.15 | 53 | Multisector Bonds | HARD vs AINP | |
| Fidelity Municipal Bond Opportunities ETF | -0.28 | -0.19 | — | 76 | Municipal Bonds | HARD vs FMUB | |
| iShares Flexible Income Active ETF | -0.28 | -0.04 | -0.03 | 70 | Multisector Bonds | HARD vs BINC | |
| Astoria Dynamic Core US Fixed Income ETF | -0.28 | -0.25 | -0.25 | 58 | Multisector Bonds | HARD vs AGGA |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HARD, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of -0.09, roughly unchanged from -0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | -0.09 | -0.01 | -0.01 | 61 | Financial Services | |
| Innovative Industrial Properties, Inc. | -0.08 | 0.01 | 0.01 | 71 | Real Estate | |
| Cohen & Steers Quality Income Realty Fund, Inc. | -0.07 | 0.00 | -0.00 | 66 | Financial Services | |
| Amazon.com, Inc | -0.05 | 0.05 | 0.05 | 60 | Consumer Cyclical | |
| MPLX LP | -0.01 | 0.09 | 0.10 | 79 | Energy |
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