Looking to balance out your exposure to HLI? The ETFs below have the lowest correlation with HLI — they tend to move on their own, which can help reduce risk when HLI drops. The stock ideas table highlights individual companies that behave independently from HLI.
Best Diversifiers for HLI
0 ETFs have low correlation with HLI (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.31, down from 0.47 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.31 | 0.39 | 0.47 | 73 | Nasdaq-100 | HLI vs QQQ | |
| Schwab U.S. Dividend Equity ETF | 0.35 | 0.49 | 0.54 | 80 | Dividend | HLI vs SCHD | |
| First Trust RBA American Industrial Renaissance ET... | 0.41 | 0.57 | 0.58 | 78 | Building & Construction | HLI vs AIRR | |
| iShares Currency Hedged MSCI EAFE Small Cap ETF | 0.42 | 0.46 | 0.50 | 73 | Foreign Small & Mid Cap Equities | HLI vs HSCZ | |
| Vanguard S&P 500 ETF | 0.43 | 0.52 | 0.56 | 70 | S&P 500 | HLI vs VOO |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HLI, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HLI and solid risk/return profiles. The least correlated is Walmart Inc. (WMT) (Consumer Defensive) with a 1Y correlation of -0.02, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Walmart Inc. | -0.02 | 0.11 | 0.18 | 63 | Consumer Defensive | |
| First Solar, Inc. | 0.03 | 0.13 | 0.20 | 81 | Technology | |
| Atmos Energy Corporation | 0.07 | 0.21 | 0.23 | 60 | Utilities | |
| Eli Lilly and Company | 0.09 | 0.12 | 0.16 | 72 | Healthcare | |
| Kinross Gold Corporation | 0.10 | 0.15 | 0.16 | 79 | Basic Materials |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements HLI
Add HLI to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HLI