Looking to balance out your exposure to HBI? The ETFs below have the lowest correlation with HBI — they tend to move on their own, which can help reduce risk when HBI drops. The stock ideas table highlights individual companies that behave independently from HBI.
Best Diversifiers for HBI
1 ETFs have low correlation with HBI (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.24, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.24 | 0.26 | 0.37 | 73 | Nasdaq-100 | HBI vs QQQ | |
| Vanguard S&P 500 ETF | 0.32 | 0.35 | 0.46 | 70 | S&P 500 | HBI vs VOO | |
| Pacer Global Cash Cows Dividend ETF | 0.33 | 0.36 | 0.43 | 79 | Large Cap Value Equities, Dividend | HBI vs GCOW | |
| State Street SPDR S&P 500 ETF | 0.33 | 0.35 | 0.46 | 70 | S&P 500 | HBI vs SPY | |
| Pacer Lunt Large Cap Alternator ETF | 0.36 | 0.36 | 0.39 | 78 | Large Cap Growth Equities | HBI vs ALTL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HBI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HBI and solid risk/return profiles. The least correlated is Elbit Systems Ltd (ESLT) (Industrials) with a 1Y correlation of -0.08, down from 0.16 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Elbit Systems Ltd | -0.08 | 0.10 | 0.16 | 88 | Industrials | |
| Welltower Inc. | -0.07 | 0.15 | 0.26 | 79 | Real Estate | |
| Walmart Inc. | -0.06 | 0.10 | 0.18 | 63 | Consumer Defensive | |
| American Healthcare REIT, Inc. | -0.05 | — | — | 81 | Real Estate | |
| Altria Group, Inc. | -0.05 | 0.10 | 0.19 | 69 | Consumer Defensive |
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