Looking to balance out your exposure to HDSN? The ETFs below have the lowest correlation with HDSN — they tend to move on their own, which can help reduce risk when HDSN drops. The stock ideas table highlights individual companies that behave independently from HDSN.
Best Diversifiers for HDSN
2 ETFs have low correlation with HDSN (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.24, roughly unchanged from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.24 | 0.23 | 0.32 | 94 | Semiconductors, Technology Equities | HDSN vs SMH | |
| Invesco QQQ ETF | 0.25 | 0.25 | 0.33 | 64 | Nasdaq-100 | HDSN vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.34 | 0.32 | 0.38 | 67 | S&P 500 | HDSN vs SPY | |
| Vanguard S&P 500 ETF | 0.34 | 0.32 | 0.38 | 68 | S&P 500 | HDSN vs VOO | |
| iShares MSCI USA Quality Factor ETF | 0.37 | 0.33 | 0.38 | 62 | Large Cap Blend Equities | HDSN vs QUAL |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HDSN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HDSN and solid risk/return profiles. The least correlated is Valero Energy Corporation (VLO) (Energy) with a 1Y correlation of -0.02, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Valero Energy Corporation | -0.02 | 0.12 | 0.18 | 94 | Energy | |
| Vista Oil & Gas, S.A.B. de C.V. | -0.00 | 0.10 | 0.15 | 67 | Energy | |
| Halozyme Therapeutics, Inc. | 0.03 | 0.10 | 0.18 | 71 | Healthcare | |
| Engie SA ADR | 0.07 | 0.06 | 0.10 | 86 | Utilities | |
| Arch Capital Group Ltd. | 0.09 | 0.11 | 0.19 | 65 | Financial Services |
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