Looking to diversify beyond HELS? The ETFs below have historically moved differently from HELS, 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 HELS
1 ETFs have low correlation with HELS (below 0.3), 0 of which are negatively correlated. The least correlated is AltShares Event-Driven ETF (EVNT) (Long-Short) with a 1Y correlation of 0.10, roughly unchanged from 0.10 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| AltShares Event-Driven ETF | 0.10 | 0.10 | 0.10 | 70 | Long-Short, Event Driven | HELS vs EVNT | |
| Hull Tactical US ETF | 0.45 | 0.45 | 0.45 | 85 | Equity Hedged, Long-Short | HELS vs HTUS | |
| First Trust Long/Short Equity ETF | 0.46 | 0.46 | 0.46 | 76 | Long-Short | HELS vs FTLS |
Diversification Analysis
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