Looking to balance out your exposure to HIVE? The ETFs below have historically moved differently from HIVE, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for HIVE
2 ETFs have low correlation with HIVE (below 0.3), 1 of which are negatively correlated. The least correlated is State Street Energy Select Sector SPDR ETF (XLE) (Energy Equities) with a 1Y correlation of -0.05, down from 0.16 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.05 | 0.10 | 0.16 | 61 | Energy Equities | HIVE vs XLE | |
| iShares MSCI Brazil ETF | 0.28 | 0.27 | 0.26 | 51 | Latin America Equities | HIVE vs EWZ |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HIVE, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Enterprise Products Partners L.P. (EPD) (Energy) with a 1Y correlation of -0.15, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enterprise Products Partners L.P. | -0.15 | 0.10 | 0.19 | 86 | Energy | |
| Plains All American Pipeline, L.P. | -0.14 | 0.11 | 0.19 | 90 | Energy | |
| Energy Transfer LP | -0.05 | 0.14 | 0.23 | 82 | Energy | |
| Halliburton Company | 0.01 | 0.10 | 0.17 | 79 | Energy | |
| BP p.l.c. | 0.01 | 0.06 | 0.13 | 71 | Energy |
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