Looking to balance out your exposure to HES? The ETFs below have the lowest correlation with HES — they tend to move on their own, which can help reduce risk when HES drops. The stock ideas table highlights individual companies that behave independently from HES.
Best Diversifiers for HES
2 ETFs have low correlation with HES (below 0.3), 1 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of -0.00, down from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | -0.00 | 0.17 | 0.31 | 70 | S&P 500 | HES vs SPY | |
| Schwab U.S. Dividend Equity ETF | 0.19 | 0.43 | 0.46 | 80 | Dividend | HES vs SCHD |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HES, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HES and solid risk/return profiles. The least correlated is Equinix, Inc. (EQIX) (Real Estate) with a 1Y correlation of -0.14, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Equinix, Inc. | -0.14 | 0.01 | 0.05 | 64 | Real Estate | |
| Aveanna Healthcare Holdings Inc. | -0.13 | 0.18 | 0.15 | 54 | Healthcare | |
| Eaton Corporation plc | -0.02 | 0.11 | 0.22 | 67 | Industrials | |
| NVIDIA Corporation | -0.02 | -0.00 | 0.13 | 78 | Technology | |
| Citigroup Inc. | -0.01 | 0.21 | 0.36 | 91 | Financial Services |
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