Looking to balance out your exposure to HCA? The ETFs below have historically moved differently from HCA, 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 HCA
18 ETFs have low correlation with HCA (below 0.3), 4 of which are negatively correlated. The least correlated is Breakwave Tanker Shipping ETF (BWET) (Commodities) with a 1Y correlation of -0.09, roughly unchanged from -0.05 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Breakwave Tanker Shipping ETF | -0.09 | -0.05 | — | 99 | Commodities | HCA vs BWET | |
| Direxion Daily Technology Bull 3X Shares | -0.08 | 0.10 | 0.26 | 54 | Leveraged Equities, Technology Equities | HCA vs TECL | |
| iShares Semiconductor ETF | -0.08 | 0.10 | 0.24 | 90 | Semiconductors, Technology Equities | HCA vs SOXX | |
| iShares 0-3 Month Treasury Bond ETF | -0.01 | -0.02 | -0.02 | 100 | Ultrashort Bond | HCA vs SGOV | |
| Invesco QQQ ETF | 0.02 | 0.14 | 0.29 | 55 | Nasdaq-100 | HCA vs QQQ |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HCA, 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 EOG Resources, Inc. (EOG) (Energy) with a 1Y correlation of -0.20, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| EOG Resources, Inc. | -0.20 | 0.02 | 0.11 | 70 | Energy | |
| Talos Energy Inc. | -0.17 | 0.03 | 0.13 | 87 | Energy | |
| Chevron Corporation | -0.16 | 0.07 | 0.15 | 76 | Energy | |
| Halliburton Company | -0.15 | 0.03 | 0.13 | 80 | Energy | |
| Exxon Mobil Corporation | -0.14 | 0.09 | 0.17 | 85 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements HCA
Add HCA to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HCA