Looking to diversify beyond HDRO.L? The ETFs below have the lowest correlation with HDRO.L — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from HDRO.L.
Best Diversifiers for HDRO.L
1 ETFs have low correlation with HDRO.L (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) (Global Equities) with a 1Y correlation of 0.21, down from 0.45 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Morningstar Developed Markets Dividend Lead... | 0.21 | 0.41 | 0.45 | 91 | Global Equities, Dividend | HDRO.L vs TDGB.L | |
| L&G Battery Value-Chain UCITS ETF | 0.54 | 0.58 | 0.60 | 95 | Alternative Energy Equities, Global Equities | HDRO.L vs BATG.L | |
| VanEck Semiconductor UCITS ETF | 0.59 | 0.48 | 0.55 | 97 | Semiconductors, Technology Equities | HDRO.L vs SMGB.L | |
| L&G Battery Value-Chain UCITS ETF | 0.59 | 0.64 | 0.67 | 95 | Alternative Energy Equities | HDRO.L vs BATT.L | |
| WisdomTree Battery Solutions UCITS ETF - USD Acc | 0.74 | 0.72 | 0.72 | 65 | Alternative Energy Equities, Global Equities | HDRO.L vs CHRG.L |
See all 6 diversifiers for HDRO.L
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