Looking to balance out your exposure to HBB? The ETFs below have the lowest correlation with HBB — they tend to move on their own, which can help reduce risk when HBB drops. The stock ideas table highlights individual companies that behave independently from HBB.
Best Diversifiers for HBB
1 ETFs have low correlation with HBB (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.17, down from 0.04 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.17 | -0.03 | 0.04 | 100 | Ultrashort Bond | HBB vs SGOV | |
| State Street SPDR S&P 500 ETF | 0.34 | 0.24 | 0.28 | 70 | S&P 500 | HBB vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HBB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HBB and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.22, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.22 | -0.15 | -0.01 | 68 | Financial Services | |
| Chord Energy Corp | -0.06 | 0.09 | 0.10 | 75 | Energy | |
| Millicom International Cellular S.A. | -0.06 | 0.10 | 0.13 | 97 | Communication Services | |
| Duke Energy Corporation | 0.03 | -0.00 | 0.02 | 53 | Utilities | |
| Altria Group, Inc. | 0.03 | 0.02 | 0.06 | 69 | Consumer Defensive |
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