Looking to diversify beyond HEGD? The ETFs below have historically moved differently from HEGD, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for HEGD
381 ETFs have low correlation with HEGD (below 0.3), 87 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.48 | — | — | 52 | Inverse Equities | HEGD vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.48 | — | — | 61 | Inverse Equities, Leveraged Equities | HEGD vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.46 | — | — | 75 | Derivative Income | HEGD vs WNTR | |
| ProShares Short Bitcoin ETF | -0.45 | -0.34 | — | 61 | Cryptocurrency | HEGD vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.44 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | HEGD vs SBIT |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HEGD, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of -0.22, down from 0.17 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.22 | 0.02 | 0.17 | 90 | Consumer Defensive | |
| Altria Group, Inc. | -0.22 | -0.01 | 0.11 | 66 | Consumer Defensive | |
| Duke Energy Corporation | -0.19 | -0.03 | 0.10 | 56 | Utilities | |
| Exxon Mobil Corporation | -0.19 | 0.03 | 0.16 | 84 | Energy | |
| Occidental Petroleum Corporation | -0.19 | 0.08 | 0.21 | 70 | 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