Looking to balance out your exposure to HON? The ETFs below have the lowest correlation with HON — they tend to move on their own, which can help reduce risk when HON drops. The stock ideas table highlights individual companies that behave independently from HON.
Best Diversifiers for HON
14 ETFs have low correlation with HON (below 0.3), 5 of which are negatively correlated. The least correlated is WisdomTree Floating Rate Treasury Fund (USFR) (Government Bonds) with a 1Y correlation of -0.14, down from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree Floating Rate Treasury Fund | -0.14 | -0.04 | -0.02 | 100 | Government Bonds, Ultrashort Bond | HON vs USFR | |
| iShares 0-3 Month Treasury Bond ETF | -0.06 | -0.01 | -0.01 | 100 | Ultrashort Bond | HON vs SGOV | |
| abrdn Bloomberg All Commodity Longer Dated Strateg... | -0.04 | 0.03 | 0.14 | 58 | Commodities | HON vs BCD | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.04 | -0.06 | -0.01 | 100 | Government Bonds, Ultrashort Bond | HON vs BIL | |
| State Street Energy Select Sector SPDR ETF | -0.03 | 0.15 | 0.26 | 54 | Energy Equities | HON vs XLE |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HON, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HON and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.08, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | -0.08 | 0.09 | 0.21 | 76 | Energy | |
| ConocoPhillips Company | -0.08 | 0.09 | 0.20 | 66 | Energy | |
| Occidental Petroleum Corporation | -0.06 | 0.09 | 0.18 | 64 | Energy | |
| Devon Energy Corporation | -0.06 | 0.11 | 0.21 | 73 | Energy | |
| Chevron Corporation | -0.05 | 0.12 | 0.24 | 73 | Energy |
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Build a portfolio that complements HON
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