Looking to balance out your exposure to HL? The ETFs below have the lowest correlation with HL — they tend to move on their own, which can help reduce risk when HL drops. The stock ideas table highlights individual companies that behave independently from HL.
Best Diversifiers for HL
8 ETFs have low correlation with HL (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 -0.00, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.00 | -0.04 | -0.02 | 100 | Ultrashort Bond | HL vs SGOV | |
| SPDR S&P Oil & Gas Equipment & Services ETF | 0.18 | 0.29 | 0.35 | 82 | Energy Equities | HL vs XES | |
| VanEck Oil Services ETF | 0.20 | 0.29 | 0.34 | 75 | Energy Equities | HL vs OIH | |
| iShares Ultra Short Duration Bond Active ETF | 0.21 | 0.14 | 0.16 | 99 | Ultrashort Bond | HL vs ICSH | |
| SPDR Bloomberg Barclays Investment Grade Floating ... | 0.21 | 0.09 | 0.11 | 99 | Corporate Bonds | HL vs FLRN |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HL and solid risk/return profiles. The least correlated is Vista Oil & Gas, S.A.B. de C.V. (VIST) (Energy) with a 1Y correlation of -0.15, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Vista Oil & Gas, S.A.B. de C.V. | -0.15 | 0.12 | 0.22 | 63 | Energy | |
| Altria Group, Inc. | -0.13 | -0.01 | 0.10 | 72 | Consumer Defensive | |
| Exxon Mobil Corporation | -0.08 | 0.07 | 0.21 | 72 | Energy | |
| Johnson & Johnson | 0.01 | 0.04 | 0.08 | 96 | Healthcare | |
| CareTrust REIT, Inc. | 0.02 | 0.16 | 0.18 | 78 | Real Estate |
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Build a portfolio that complements HL
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