Looking to balance out your exposure to HD? The ETFs below have the lowest correlation with HD — they tend to move on their own, which can help reduce risk when HD drops. The stock ideas table highlights individual companies that behave independently from HD.
Best Diversifiers for HD
107 ETFs have low correlation with HD (below 0.3), 13 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 -0.27, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco Optimum Yield Diversified Commodity Strate... | -0.27 | -0.07 | 0.03 | 57 | Commodities | HD vs PDBC | |
| Invesco DB Commodity Index Tracking Fund | -0.26 | -0.06 | 0.03 | 56 | Commodities | HD vs DBC | |
| abrdn Bloomberg All Commodity Longer Dated Strateg... | -0.13 | -0.01 | 0.06 | 55 | Commodities | HD vs BCD | |
| Fidelity MSCI Energy Index ETF | -0.13 | 0.14 | 0.18 | 60 | Energy Equities | HD vs FENY | |
| Vanguard Energy ETF | -0.13 | 0.14 | 0.18 | 60 | Energy Equities | HD vs VDE |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HD and solid risk/return profiles. The least correlated is Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.17, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.17 | 0.06 | 0.13 | 67 | Energy | |
| Devon Energy Corporation | -0.15 | 0.09 | 0.15 | 76 | Energy | |
| ConocoPhillips Company | -0.14 | 0.07 | 0.11 | 69 | Energy | |
| Valero Energy Corporation | -0.13 | 0.11 | 0.11 | 97 | Energy | |
| Petróleo Brasileiro S.A. - Petrobras | -0.12 | 0.07 | 0.06 | 80 | Energy |
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