Looking to balance out your exposure to HIMX? The ETFs below have the lowest correlation with HIMX — they tend to move on their own, which can help reduce risk when HIMX drops. The stock ideas table highlights individual companies that behave independently from HIMX.
Best Diversifiers for HIMX
1 ETFs have low correlation with HIMX (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.11, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.11 | -0.05 | -0.03 | 100 | Ultrashort Bond | HIMX vs SGOV | |
| Vanguard S&P 500 ETF | 0.47 | 0.50 | 0.50 | 70 | S&P 500 | HIMX vs VOO | |
| State Street SPDR S&P 500 ETF | 0.47 | 0.50 | 0.50 | 70 | S&P 500 | HIMX vs SPY | |
| Invesco QQQ ETF | 0.52 | 0.52 | 0.53 | 73 | Nasdaq-100 | HIMX vs QQQ | |
| Direxion Daily Semiconductor Bull 3X ETF | 0.61 | 0.58 | 0.60 | 97 | Leveraged Equities, Semiconductors | HIMX vs SOXL |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HIMX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HIMX and solid risk/return profiles. The least correlated is Lantheus Holdings, Inc. (LNTH) (Healthcare) with a 1Y correlation of 0.08, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Lantheus Holdings, Inc. | 0.08 | 0.18 | 0.25 | 57 | Healthcare | |
| SSR Mining Inc. | 0.11 | 0.17 | 0.15 | 86 | Basic Materials | |
| Nordic Semiconductor ASA | 0.15 | 0.08 | — | 89 | Technology | |
| AGNC Investment Corp. | 0.19 | 0.28 | 0.31 | 76 | Real Estate | |
| REX American Resources Corporation | 0.19 | 0.20 | 0.23 | 96 | Basic Materials |
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