Looking to diversify beyond HDEF? The ETFs below have historically moved differently from HDEF, 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 HDEF
515 ETFs have low correlation with HDEF (below 0.3), 39 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.42, down from -0.28 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.42 | -0.35 | -0.28 | 56 | Leveraged Currency | HDEF vs YCS | |
| United States Brent Oil Fund LP | -0.22 | -0.05 | 0.10 | 52 | Oil & Gas | HDEF vs BNO | |
| Invesco DB Energy Fund | -0.22 | -0.06 | 0.11 | 72 | Oil & Gas | HDEF vs DBE | |
| United States Gasoline Fund LP | -0.21 | -0.07 | 0.09 | 87 | Oil & Gas | HDEF vs UGA | |
| ProShares Short Bitcoin ETF | -0.20 | -0.19 | — | 61 | Cryptocurrency | HDEF vs BITI |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HDEF, 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 Broadcom Inc. (AVGO) (Technology) with a 1Y correlation of 0.05, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Broadcom Inc. | 0.05 | 0.14 | 0.25 | 67 | Technology | |
| Centene Corporation | 0.06 | 0.16 | 0.25 | 95 | Healthcare | |
| Sunoco LP | 0.07 | 0.22 | 0.29 | 90 | Energy | |
| NVIDIA Corporation | 0.08 | 0.16 | 0.30 | 56 | Technology | |
| Exxon Mobil Corporation | 0.09 | 0.21 | 0.31 | 84 | Energy |
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