Looking to diversify beyond HEGD? The ETFs below have the lowest correlation with HEGD — 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 HEGD.
Best Diversifiers for HEGD
354 ETFs have low correlation with HEGD (below 0.3), 72 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.30, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.30 | -0.05 | 0.07 | 66 | Oil & Gas | HEGD vs USO | |
| Invesco DB Energy Fund | -0.29 | -0.05 | 0.08 | 71 | Oil & Gas | HEGD vs DBE | |
| United States Brent Oil Fund LP | -0.28 | -0.04 | 0.07 | 65 | Oil & Gas | HEGD vs BNO | |
| Defiance Oil Enhanced Options Income ETF | -0.28 | -0.08 | -0.08 | 56 | Derivative Income | HEGD vs USOY | |
| ProShares K-1 Free Crude Oil Strategy ETF | -0.28 | -0.02 | 0.09 | 56 | Oil & Gas | HEGD vs OILK |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HEGD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HEGD and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.17, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.17 | 0.03 | 0.14 | 67 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.11 | 0.06 | 0.19 | 85 | Energy | |
| The Coca-Cola Company | -0.11 | 0.06 | 0.21 | 63 | Consumer Defensive | |
| BP p.l.c. | -0.08 | 0.10 | 0.21 | 87 | Energy | |
| Chevron Corporation | -0.08 | 0.09 | 0.21 | 83 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements HEGD
Add HEGD to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HEGD