Looking to diversify beyond HAWX? The ETFs below have the lowest correlation with HAWX — 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 HAWX.
Best Diversifiers for HAWX
372 ETFs have low correlation with HAWX (below 0.3), 73 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.42, down from -0.32 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.42 | -0.32 | — | 53 | Cryptocurrency | HAWX vs BITI | |
| Defiance Daily Target 2X Short MSTR ETF | -0.36 | — | — | 56 | Inverse Equities | HAWX vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.36 | — | — | 65 | Inverse Equities, Leveraged Equities | HAWX vs MSTZ | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.34 | — | — | 70 | Derivative Income | HAWX vs WNTR | |
| Invesco DB Energy Fund | -0.32 | -0.07 | 0.09 | 57 | Oil & Gas | HAWX vs DBE |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HAWX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HAWX and solid risk/return profiles. The least correlated is Valero Energy Corporation (VLO) (Energy) with a 1Y correlation of -0.08, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Valero Energy Corporation | -0.08 | 0.14 | 0.25 | 96 | Energy | |
| Suncor Energy Inc. | -0.07 | 0.18 | 0.32 | 90 | Energy | |
| Marathon Petroleum Corporation | 0.01 | 0.16 | 0.30 | 92 | Energy | |
| Cardinal Health, Inc. | 0.03 | 0.10 | 0.21 | 84 | Healthcare | |
| Dell Technologies Inc. | 0.39 | 0.42 | 0.49 | 97 | Technology |
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