Looking to balance out your exposure to HD? The ETFs below have historically moved differently from HD, 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 HD
124 ETFs have low correlation with HD (below 0.3), 14 of which are negatively correlated. The least correlated is Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) (Commodities) with a 1Y correlation of -0.31, down from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Optimum Yield Diversified Commodity Strate... | -0.31 | -0.10 | 0.01 | 60 | Commodities | HD vs PDBC | |
| Invesco DB Commodity Index Tracking Fund | -0.30 | -0.08 | 0.02 | 59 | Commodities | HD vs DBC | |
| Vanguard Energy ETF | -0.18 | 0.11 | 0.16 | 61 | Energy Equities | HD vs VDE | |
| Fidelity MSCI Energy Index ETF | -0.18 | 0.11 | 0.17 | 62 | Energy Equities | HD vs FENY | |
| iShares Global Energy ETF | -0.17 | 0.12 | 0.17 | 66 | Energy Equities | HD vs IXC |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HD, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.22, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.22 | 0.04 | 0.12 | 65 | Energy | |
| Valero Energy Corporation | -0.20 | 0.09 | 0.09 | 98 | Energy | |
| Devon Energy Corporation | -0.20 | 0.08 | 0.13 | 71 | Energy | |
| ConocoPhillips Company | -0.20 | 0.05 | 0.10 | 68 | Energy | |
| Petróleo Brasileiro S.A. - Petrobras | -0.18 | 0.04 | 0.05 | 79 | Energy |
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