Looking to diversify beyond HMOP? The ETFs below have historically moved differently from HMOP, 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 HMOP
1171 ETFs have low correlation with HMOP (below 0.3), 107 of which are negatively correlated. The least correlated is Invesco DB Oil Fund (DBO) (Oil & Gas) with a 1Y correlation of -0.41, down from -0.13 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco DB Oil Fund | -0.41 | -0.20 | -0.13 | 58 | Oil & Gas | HMOP vs DBO | |
| Invesco DB Energy Fund | -0.41 | -0.20 | -0.13 | 72 | Oil & Gas | HMOP vs DBE | |
| United States Oil Fund LP | -0.39 | -0.19 | -0.13 | 55 | Oil & Gas | HMOP vs USO | |
| United States Gasoline Fund LP | -0.38 | -0.19 | -0.11 | 87 | Oil & Gas | HMOP vs UGA | |
| United States Brent Oil Fund LP | -0.37 | -0.18 | -0.12 | 52 | Oil & Gas | HMOP vs BNO |
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