Looking to balance out your exposure to HESAY? The ETFs below have the lowest correlation with HESAY — they tend to move on their own, which can help reduce risk when HESAY drops. The stock ideas table highlights individual companies that behave independently from HESAY.
Best Diversifiers for HESAY
3 ETFs have low correlation with HESAY (below 0.3), 0 of which are negatively correlated. The least correlated is VanEck Semiconductor ETF (SMH) (Semiconductors) with a 1Y correlation of 0.27, down from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.27 | 0.33 | 0.41 | 90 | Semiconductors, Technology Equities | HESAY vs SMH | |
| Vanguard Information Technology ETF | 0.27 | 0.35 | 0.43 | 50 | Technology Equities | HESAY vs VGT | |
| iShares Expanded Tech Sector ETF | 0.29 | 0.36 | 0.44 | 54 | Technology Equities | HESAY vs IGM | |
| Schwab U.S. Dividend Equity ETF | 0.32 | 0.31 | 0.37 | 91 | Dividend | HESAY vs SCHD | |
| WisdomTree Japan Hedged Equity Fund | 0.33 | 0.29 | 0.33 | 94 | Japan Equities, Asia Pacific Equities | HESAY vs DXJ |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HESAY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HESAY and solid risk/return profiles. The least correlated is Cboe Global Markets, Inc. (CBOE) (Financial Services) with a 1Y correlation of -0.22, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cboe Global Markets, Inc. | -0.22 | -0.12 | 0.06 | 60 | Financial Services | |
| Vista Oil & Gas, S.A.B. de C.V. | -0.20 | 0.03 | 0.08 | 70 | Energy | |
| Chevron Corporation | -0.18 | -0.05 | 0.05 | 74 | Energy | |
| Exxon Mobil Corporation | -0.15 | -0.06 | 0.04 | 78 | Energy | |
| Enterprise Products Partners L.P. | -0.08 | 0.07 | 0.13 | 87 | Energy |
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