Looking to balance out your exposure to HMY? The ETFs below have the lowest correlation with HMY — they tend to move on their own, which can help reduce risk when HMY drops. The stock ideas table highlights individual companies that behave independently from HMY.
Best Diversifiers for HMY
0 ETFs have low correlation with HMY (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Silver Trust (SLV) (Silver) with a 1Y correlation of 0.68, roughly unchanged from 0.64 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Silver Trust | 0.68 | 0.64 | 0.64 | 51 | Silver, Precious Metals | HMY vs SLV |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HMY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HMY and solid risk/return profiles. The least correlated is The New York Times Company (NYT) (Communication Services) with a 1Y correlation of 0.00, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The New York Times Company | 0.00 | 0.12 | 0.13 | 79 | Communication Services | |
| Expeditors International of Washington, Inc. | 0.01 | 0.07 | 0.08 | 80 | Industrials | |
| Kodiak Gas Services Inc. | 0.02 | — | — | 92 | Energy | |
| Fox Corporation | 0.02 | 0.09 | 0.08 | 59 | Communication Services | |
| Archrock, Inc. | 0.05 | 0.12 | 0.17 | 78 | Energy |
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