Looking to balance out your exposure to HDB? The ETFs below have the lowest correlation with HDB — they tend to move on their own, which can help reduce risk when HDB drops. The stock ideas table highlights individual companies that behave independently from HDB.
Best Diversifiers for HDB
7 ETFs have low correlation with HDB (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.04, roughly unchanged from 0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.04 | 0.03 | 0.01 | 100 | Ultrashort Bond | HDB vs SGOV | |
| iShares 0-5 Year TIPS Bond ETF | 0.02 | 0.09 | 0.06 | 88 | Inflation-Protected Bonds | HDB vs STIP | |
| FlexShares Morningstar Global Upstream Natural Res... | 0.06 | 0.24 | 0.29 | 54 | Natural Resources | HDB vs GUNR | |
| Schwab U.S. Dividend Equity ETF | 0.12 | 0.25 | 0.37 | 77 | Dividend | HDB vs SCHD | |
| JPMorgan Nasdaq Equity Premium Income ETF | 0.22 | 0.25 | 0.34 | 64 | Nasdaq-100, Derivative Income | HDB vs JEPQ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HDB, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HDB and solid risk/return profiles. The least correlated is EOG Resources, Inc. (EOG) (Energy) with a 1Y correlation of -0.21, down from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| EOG Resources, Inc. | -0.21 | -0.00 | 0.10 | 58 | Energy | |
| Suncor Energy Inc. | -0.16 | 0.05 | 0.13 | 84 | Energy | |
| Marathon Petroleum Corporation | -0.15 | 0.02 | 0.14 | 82 | Energy | |
| BP p.l.c. | -0.14 | 0.08 | 0.16 | 75 | Energy | |
| Exxon Mobil Corporation | -0.12 | 0.04 | 0.12 | 74 | Energy |
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Build a portfolio that complements HDB
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