Looking to balance out your exposure to HCA? The ETFs below have the lowest correlation with HCA — they tend to move on their own, which can help reduce risk when HCA drops. The stock ideas table highlights individual companies that behave independently from HCA.
Best Diversifiers for HCA
16 ETFs have low correlation with HCA (below 0.3), 3 of which are negatively correlated. The least correlated is Breakwave Tanker Shipping ETF (BWET) (Commodities) with a 1Y correlation of -0.05, roughly unchanged from -0.05 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Breakwave Tanker Shipping ETF | -0.05 | -0.05 | — | 99 | Commodities | HCA vs BWET | |
| Direxion Daily Technology Bull 3X Shares | -0.04 | 0.11 | 0.28 | 60 | Leveraged Equities, Technology Equities | HCA vs TECL | |
| iShares 0-3 Month Treasury Bond ETF | -0.02 | -0.02 | -0.02 | 100 | Ultrashort Bond | HCA vs SGOV | |
| Invesco QQQ ETF | 0.05 | 0.15 | 0.30 | 61 | Nasdaq-100 | HCA vs QQQ | |
| Invesco NASDAQ 100 ETF | 0.06 | 0.16 | 0.30 | 61 | Nasdaq-100 | HCA vs QQQM |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HCA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HCA and solid risk/return profiles. The least correlated is Viper Energy Partners LP (VNOM) (Energy) with a 1Y correlation of -0.20, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Viper Energy Partners LP | -0.20 | -0.02 | 0.09 | 67 | Energy | |
| EOG Resources, Inc. | -0.18 | 0.02 | 0.11 | 63 | Energy | |
| Precision Drilling Corporation | -0.13 | 0.03 | 0.12 | 86 | Energy | |
| Chevron Corporation | -0.13 | 0.08 | 0.17 | 73 | Energy | |
| Talos Energy Inc. | -0.12 | 0.04 | 0.14 | 79 | Energy |
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Build a portfolio that complements HCA
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