Looking to balance out your exposure to HCC? The ETFs below have the lowest correlation with HCC — they tend to move on their own, which can help reduce risk when HCC drops. The stock ideas table highlights individual companies that behave independently from HCC.
Best Diversifiers for HCC
9 ETFs have low correlation with HCC (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.11, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.11 | 0.17 | 0.25 | 59 | Momentum, S&P 500 | HCC vs SPMO | |
| iShares U.S. Technology ETF | 0.11 | 0.16 | 0.16 | 56 | Technology Equities | HCC vs IYW | |
| Vanguard Information Technology ETF | 0.14 | 0.18 | 0.18 | 52 | Technology Equities | HCC vs VGT | |
| Invesco QQQ ETF | 0.15 | 0.18 | 0.18 | 56 | Nasdaq-100 | HCC vs QQQ | |
| PIMCO Enhanced Short Maturity Active ETF | 0.16 | 0.10 | 0.07 | 100 | Ultrashort Bond | HCC vs MINT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HCC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HCC and solid risk/return profiles. The least correlated is Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.13, down from 0.00 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.13 | -0.02 | 0.00 | 83 | Healthcare | |
| Kiniksa Pharmaceuticals, Ltd. | -0.11 | 0.04 | 0.11 | 97 | Healthcare | |
| Acadia Healthcare Company, Inc. | -0.11 | 0.09 | 0.15 | 62 | Healthcare | |
| Old Republic International Corporation | -0.11 | 0.09 | 0.19 | 69 | Financial Services | |
| Essent Group Ltd. | -0.09 | 0.14 | 0.19 | 57 | Financial Services |
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