Looking to balance out your exposure to HNST? The ETFs below have historically moved differently from HNST, 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 HNST
2 ETFs have low correlation with HNST (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.18, down from 0.36 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.18 | 0.29 | 0.36 | 95 | Dividend | HNST vs SCHD | |
| Vanguard Information Technology ETF | 0.24 | 0.30 | 0.41 | 52 | Technology Equities | HNST vs VGT | |
| State Street SPDR S&P 500 ETF | 0.34 | 0.37 | 0.45 | 67 | S&P 500 | HNST vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HNST, 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 Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of -0.05, down from 0.08 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | -0.05 | 0.02 | 0.08 | 97 | Healthcare | |
| Eli Lilly and Company | 0.04 | 0.08 | 0.11 | 83 | Healthcare | |
| NVIDIA Corporation | 0.13 | 0.17 | 0.29 | 56 | Technology | |
| IREN Limited | 0.13 | 0.23 | 0.28 | 78 | Financial Services | |
| American Express Company | 0.29 | 0.28 | 0.33 | 58 | Financial Services |
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