Looking to balance out your exposure to HBM? The ETFs below have historically moved differently from HBM, 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 HBM
2 ETFs have low correlation with HBM (below 0.3), 1 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.04, down from 0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.04 | 0.20 | 0.35 | 69 | Energy Equities | HBM vs XLE | |
| Schwab U.S. Dividend Equity ETF | 0.11 | 0.25 | 0.36 | 95 | Dividend | HBM vs SCHD | |
| iShares MSCI Brazil ETF | 0.44 | 0.44 | 0.46 | 53 | Latin America Equities | HBM vs EWZ | |
| Invesco Semiconductors ETF | 0.48 | 0.44 | 0.43 | 89 | Semiconductors, Technology Equities | HBM vs PSI | |
| Vanguard Information Technology ETF | 0.52 | 0.43 | 0.42 | 58 | Technology Equities | HBM vs VGT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HBM, 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 Plains All American Pipeline, L.P. (PAA) (Energy) with a 1Y correlation of -0.22, down from 0.29 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Plains All American Pipeline, L.P. | -0.22 | 0.13 | 0.29 | 90 | Energy | |
| Cboe Global Markets, Inc. | -0.16 | -0.14 | 0.00 | 56 | Financial Services | |
| ONEOK, Inc. | -0.12 | 0.16 | 0.33 | 62 | Energy | |
| Strategic Education, Inc. | -0.10 | 0.05 | 0.12 | 60 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.06 | 0.14 | 0.29 | 85 | Energy |
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