Looking to balance out your exposure to HMN? The ETFs below have the lowest correlation with HMN — they tend to move on their own, which can help reduce risk when HMN drops. The stock ideas table highlights individual companies that behave independently from HMN.
Best Diversifiers for HMN
1 ETFs have low correlation with HMN (below 0.3), 1 of which are negatively correlated. The least correlated is iMGP DBi Managed Futures Strategy ETF (DBMF) (Systematic Trend) with a 1Y correlation of -0.04, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iMGP DBi Managed Futures Strategy ETF | -0.04 | 0.04 | 0.03 | 87 | Systematic Trend | HMN vs DBMF |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HMN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HMN and solid risk/return profiles. The least correlated is Central Puerto S.A. (CEPU) (Utilities) with a 1Y correlation of 0.02, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Central Puerto S.A. | 0.02 | 0.08 | 0.14 | 65 | Utilities | |
| Nucor Corporation | 0.03 | 0.16 | 0.21 | 90 | Basic Materials | |
| Kiniksa Pharmaceuticals, Ltd. | 0.04 | 0.16 | 0.13 | 95 | Healthcare | |
| Kaiser Aluminum Corporation | 0.04 | 0.21 | 0.29 | 87 | Basic Materials | |
| Modine Manufacturing Company | 0.05 | 0.12 | 0.20 | 92 | Consumer Cyclical |
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