Looking to balance out your exposure to HI? The ETFs below have the lowest correlation with HI — they tend to move on their own, which can help reduce risk when HI drops. The stock ideas table highlights individual companies that behave independently from HI.
Best Diversifiers for HI
1 ETFs have low correlation with HI (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco S&P 500 Momentum ETF (SPMO) (Momentum) with a 1Y correlation of 0.16, down from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco S&P 500 Momentum ETF | 0.16 | 0.37 | 0.44 | 61 | Momentum, S&P 500 | HI vs SPMO | |
| State Street SPDR S&P 500 ETF | 0.31 | 0.47 | 0.54 | 66 | S&P 500 | HI vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HI and solid risk/return profiles. The least correlated is Eaton Corporation plc (ETN) (Industrials) with a 1Y correlation of 0.17, down from 0.48 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eaton Corporation plc | 0.17 | 0.39 | 0.48 | 61 | Industrials |
Build a portfolio that complements HI
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