Looking to diversify beyond HDMV? The ETFs below have historically moved differently from HDMV, 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 HDMV
351 ETFs have low correlation with HDMV (below 0.3), 56 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.48, down from -0.35 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.48 | -0.42 | -0.35 | 56 | Leveraged Currency | HDMV vs YCS | |
| Invesco DB Energy Fund | -0.30 | -0.16 | 0.01 | 72 | Oil & Gas | HDMV vs DBE | |
| United States Brent Oil Fund LP | -0.28 | -0.14 | 0.01 | 52 | Oil & Gas | HDMV vs BNO | |
| United States Oil Fund LP | -0.28 | -0.15 | 0.01 | 55 | Oil & Gas | HDMV vs USO | |
| Invesco DB Oil Fund | -0.26 | -0.13 | 0.02 | 58 | Oil & Gas | HDMV vs DBO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HDMV, 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 Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.15, down from 0.43 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc. | 0.15 | 0.32 | 0.43 | 61 | Financial Services | |
| Ventas, Inc. | 0.17 | 0.29 | 0.37 | 91 | Real Estate |
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