Looking to balance out your exposure to HESM? The ETFs below have the lowest correlation with HESM — they tend to move on their own, which can help reduce risk when HESM drops. The stock ideas table highlights individual companies that behave independently from HESM.
Best Diversifiers for HESM
8 ETFs have low correlation with HESM (below 0.3), 6 of which are negatively correlated. The least correlated is SPDR Portfolio High Yield Bond ETF (SPHY) (High Yield Bonds) with a 1Y correlation of -0.09, down from 0.23 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Portfolio High Yield Bond ETF | -0.09 | 0.18 | 0.23 | 72 | High Yield Bonds | HESM vs SPHY | |
| VanEck Semiconductor ETF | -0.06 | 0.13 | 0.19 | 90 | Semiconductors, Technology Equities | HESM vs SMH | |
| Defiance Quantum ETF | -0.05 | 0.16 | 0.23 | 70 | Technology Equities | HESM vs QTUM | |
| Vanguard S&P 500 ETF | -0.05 | 0.20 | 0.29 | 66 | S&P 500 | HESM vs VOO | |
| Invesco S&P 500 Momentum ETF | -0.04 | 0.18 | 0.30 | 51 | Momentum, S&P 500 | HESM vs SPMO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HESM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HESM and solid risk/return profiles. The least correlated is ASML Holding N.V. (ASML) (Technology) with a 1Y correlation of -0.10, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ASML Holding N.V. | -0.10 | 0.10 | 0.14 | 96 | Technology | |
| Taiwan Semiconductor Manufacturing Company Limited | -0.08 | 0.08 | 0.15 | 89 | Technology | |
| Zurich Insurance Group Ltd | -0.07 | 0.07 | 0.17 | 67 | Financial Services | |
| NVIDIA Corporation | -0.06 | 0.09 | 0.14 | 63 | Technology | |
| Aveanna Healthcare Holdings Inc. | -0.06 | 0.15 | 0.14 | 92 | Healthcare |
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Build a portfolio that complements HESM
Add HESM to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HESM