Looking to balance out your exposure to HIW? The ETFs below have historically moved differently from HIW, 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 HIW
3 ETFs have low correlation with HIW (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.23, down from 0.47 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.23 | 0.39 | 0.47 | 72 | S&P 500 | HIW vs VOO | |
| State Street SPDR S&P 500 ETF | 0.24 | 0.39 | 0.47 | 72 | S&P 500 | HIW vs SPY | |
| Vanguard Total Stock Market ETF | 0.27 | 0.42 | 0.50 | 72 | Large Cap Blend Equities | HIW vs VTI | |
| iShares iBoxx $ High Yield Corporate Bond ETF | 0.37 | 0.42 | 0.45 | 54 | High Yield Bonds | HIW vs HYG |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HIW, 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 The Coca-Cola Company (KO) (Consumer Defensive) with a 1Y correlation of 0.05, down from 0.25 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | 0.05 | 0.16 | 0.25 | 86 | Consumer Defensive | |
| Verizon Communications Inc. | 0.07 | 0.21 | 0.29 | 63 | Communication Services | |
| TC Energy Corporation | 0.12 | 0.28 | 0.35 | 92 | Energy | |
| Enbridge Inc. | 0.14 | 0.31 | 0.41 | 78 | Energy | |
| Sabra Health Care REIT, Inc. | 0.16 | 0.33 | 0.47 | 68 | Real Estate |
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