Looking to diversify beyond HECA? The ETFs below have the lowest correlation with HECA — 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 HECA.
Best Diversifiers for HECA
436 ETFs have low correlation with HECA (below 0.3), 22 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.11, roughly unchanged from -0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.11 | -0.11 | -0.11 | 63 | Leveraged Currency | HECA vs YCS | |
| Obra Opportunistic Structured Products ETF | -0.10 | -0.10 | — | 72 | Multisector Bonds | HECA vs OOSP | |
| Brookstone Ultra-Short Bond ETF | -0.06 | -0.06 | -0.06 | 98 | Ultrashort Bond | HECA vs BAMU | |
| Roundhill Weekly T-Bill ETF | -0.06 | -0.06 | -0.06 | 99 | Ultrashort Bond | HECA vs WEEK | |
| iShares 0-1 Year Treasury Bond ETF | -0.05 | -0.05 | -0.05 | 100 | Government Bonds, Ultrashort Bond | HECA vs SHV |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HECA, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HECA and solid risk/return profiles. The least correlated is Carpenter Technology Corporation (CRS) (Industrials) with a 1Y correlation of 0.23, roughly unchanged from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Carpenter Technology Corporation | 0.23 | 0.23 | 0.23 | 92 | Industrials | |
| Citigroup Inc. | 0.27 | 0.27 | 0.27 | 94 | Financial Services | |
| VSE Corporation | 0.31 | 0.31 | 0.31 | 72 | Industrials | |
| Monolithic Power Systems, Inc. | 0.35 | 0.35 | 0.35 | 88 | Technology | |
| APi Group Corporation | 0.39 | 0.39 | 0.39 | 66 | Industrials |
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