Looking to balance out your exposure to HEI? The ETFs below have historically moved differently from HEI, 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 HEI
3 ETFs have low correlation with HEI (below 0.3), 2 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.15, down from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.15 | 0.01 | 0.00 | 59 | Leveraged Currency | HEI vs YCS | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.07 | -0.05 | -0.04 | 100 | Government Bonds, Ultrashort Bond | HEI vs BIL | |
| Schwab U.S. Dividend Equity ETF | 0.29 | 0.33 | 0.46 | 95 | Dividend | HEI vs SCHD | |
| iShares Semiconductor ETF | 0.31 | 0.29 | 0.38 | 90 | Semiconductors, Technology Equities | HEI vs SOXX | |
| VanEck Semiconductor ETF | 0.33 | 0.30 | 0.38 | 87 | Semiconductors, Technology Equities | HEI vs SMH |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HEI, 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 Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of -0.24, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | -0.24 | -0.02 | 0.16 | 68 | Energy | |
| Exxon Mobil Corporation | -0.21 | -0.00 | 0.17 | 85 | Energy | |
| ConocoPhillips Company | -0.20 | 0.00 | 0.18 | 71 | Energy | |
| Chevron Corporation | -0.18 | 0.04 | 0.19 | 76 | Energy | |
| Suncor Energy Inc. | -0.14 | 0.02 | 0.19 | 92 | Energy |
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