Looking to balance out your exposure to HIVE? The ETFs below have the lowest correlation with HIVE — they tend to move on their own, which can help reduce risk when HIVE drops. The stock ideas table highlights individual companies that behave independently from HIVE.
Best Diversifiers for HIVE
1 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 -0.03, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street Energy Select Sector SPDR ETF | -0.03 | 0.10 | 0.18 | 63 | Energy Equities | HIVE vs XLE | |
| Vanguard FTSE Emerging Markets ETF | 0.42 | 0.37 | 0.44 | 56 | Emerging Markets Equities | HIVE vs VWO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HIVE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HIVE and solid risk/return profiles. The least correlated is Plains All American Pipeline, L.P. (PAA) (Energy) with a 1Y correlation of -0.10, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Plains All American Pipeline, L.P. | -0.10 | 0.13 | 0.22 | 87 | Energy | |
| Energy Transfer LP | -0.01 | 0.14 | 0.21 | 69 | Energy | |
| Enterprise Products Partners L.P. | -0.01 | 0.14 | 0.22 | 85 | Energy | |
| BP p.l.c. | 0.00 | 0.08 | 0.17 | 87 | Energy | |
| Halliburton Company | 0.04 | 0.10 | 0.18 | 94 | Energy |
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