Looking to diversify beyond HAWX? The ETFs below have historically moved differently from HAWX, 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 HAWX
398 ETFs have low correlation with HAWX (below 0.3), 87 of which are negatively correlated. The least correlated is ProShares Short Bitcoin ETF (BITI) (Cryptocurrency) with a 1Y correlation of -0.44, down from -0.32 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Short Bitcoin ETF | -0.44 | -0.32 | — | 51 | Cryptocurrency | HAWX vs BITI | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.37 | — | — | 69 | Derivative Income | HAWX vs WNTR | |
| Invesco DB Energy Fund | -0.33 | -0.08 | 0.08 | 66 | Oil & Gas | HAWX vs DBE | |
| Invesco DB Oil Fund | -0.27 | -0.05 | 0.09 | 51 | Oil & Gas | HAWX vs DBO | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.25 | — | — | 97 | Inflation-Protected Bonds | HAWX vs RBIL |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HAWX, 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 Valero Energy Corporation (VLO) (Energy) with a 1Y correlation of -0.10, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Valero Energy Corporation | -0.10 | 0.13 | 0.24 | 98 | Energy | |
| Suncor Energy Inc. | -0.09 | 0.16 | 0.30 | 93 | Energy | |
| Marathon Petroleum Corporation | -0.00 | 0.15 | 0.29 | 95 | Energy | |
| Cardinal Health, Inc. | 0.00 | 0.10 | 0.20 | 87 | Healthcare | |
| Dell Technologies Inc. | 0.43 | 0.43 | 0.49 | 97 | Technology |
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