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 WisdomTree Japan Hedged Equity Fund (DXJ) (Japan Equities) with a 1Y correlation of 0.29, roughly unchanged from 0.31 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree Japan Hedged Equity Fund | 0.29 | 0.26 | 0.31 | 92 | Japan Equities | HESAY vs DXJ | |
| Direxion Daily Technology Bull 3X Shares | 0.29 | 0.36 | 0.44 | 64 | Leveraged Equities, Technology Equities | HESAY vs TECL | |
| VanEck Semiconductor ETF | 0.30 | 0.35 | 0.42 | 94 | Semiconductors, Technology Equities | HESAY vs SMH | |
| Vanguard Information Technology ETF | 0.30 | 0.37 | 0.44 | 58 | Technology Equities | HESAY vs VGT | |
| Schwab U.S. Dividend Equity ETF | 0.31 | 0.32 | 0.38 | 77 | Dividend | HESAY vs SCHD |
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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 Chevron Corporation (CVX) (Energy) with a 1Y correlation of -0.19, down from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Chevron Corporation | -0.19 | -0.03 | 0.05 | 70 | Energy | |
| Vista Oil & Gas, S.A.B. de C.V. | -0.19 | 0.05 | 0.09 | 61 | Energy | |
| Cboe Global Markets, Inc. | -0.17 | -0.11 | 0.07 | 52 | Financial Services | |
| Exxon Mobil Corporation | -0.16 | -0.03 | 0.04 | 74 | Energy | |
| Shell plc | -0.07 | 0.08 | 0.13 | 62 | Energy |
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