Looking to diversify beyond HECO? The ETFs below have the lowest correlation with HECO — 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 HECO.
Best Diversifiers for HECO
397 ETFs have low correlation with HECO (below 0.3), 49 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares iBonds Oct 2026 Term TIPS ETF | -0.18 | — | — | 98 | Inflation-Protected Bonds | HECO vs IBIC | |
| Brookstone Ultra-Short Bond ETF | -0.17 | — | — | 98 | Ultrashort Bond | HECO vs BAMU | |
| ProShares UltraShort Yen | -0.16 | — | — | 63 | Leveraged Currency | HECO vs YCS | |
| United States Gasoline Fund LP | -0.16 | — | — | 55 | Oil & Gas | HECO vs UGA | |
| F/m Ultrashort Treasury Inflation-Protected Securi... | -0.15 | -0.12 | -0.12 | 97 | Inflation-Protected Bonds | HECO vs RBIL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HECO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HECO and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Super Group (SGHC) Limited | 0.16 | — | — | 68 | Consumer Cyclical | |
| Catalyst Pharmaceuticals, Inc. | 0.19 | — | — | 79 | Healthcare | |
| Alamos Gold Inc. | 0.30 | 0.18 | 0.18 | 52 | Basic Materials | |
| NVIDIA Corporation | 0.46 | 0.52 | 0.52 | 72 | Technology |
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