Looking to balance out your exposure to HMN? The ETFs below have historically moved differently from HMN, 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 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 -0.06, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iMGP DBi Managed Futures Strategy ETF | -0.06 | 0.04 | 0.02 | 90 | Systematic Trend | HMN vs DBMF |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HMN, 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 Modine Manufacturing Company (MOD) (Consumer Cyclical) with a 1Y correlation of -0.01, down from 0.19 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Modine Manufacturing Company | -0.01 | 0.12 | 0.19 | 70 | Consumer Cyclical | |
| Central Puerto S.A. | -0.01 | 0.08 | 0.13 | 60 | Utilities | |
| Kaiser Aluminum Corporation | 0.03 | 0.20 | 0.28 | 93 | Basic Materials | |
| Kiniksa Pharmaceuticals, Ltd. | 0.04 | 0.17 | 0.13 | 97 | Healthcare | |
| Nucor Corporation | 0.06 | 0.17 | 0.21 | 94 | Basic Materials |
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