Looking to balance out your exposure to HOOD? The ETFs below have the lowest correlation with HOOD — they tend to move on their own, which can help reduce risk when HOOD drops. The stock ideas table highlights individual companies that behave independently from HOOD.
Best Diversifiers for HOOD
62 ETFs have low correlation with HOOD (below 0.3), 13 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.20, down from -0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.20 | -0.02 | — | 66 | Oil & Gas | HOOD vs USO | |
| ProShares Ultra Bloomberg Crude Oil | -0.12 | -0.00 | 0.04 | 54 | Leveraged Commodities | HOOD vs UCO | |
| WisdomTree Floating Rate Treasury Fund | -0.11 | -0.03 | — | 100 | Government Bonds, Ultrashort Bond | HOOD vs USFR | |
| State Street Energy Select Sector SPDR ETF | -0.08 | 0.09 | 0.12 | 63 | Energy Equities | HOOD vs XLE | |
| Fidelity MSCI Energy Index ETF | -0.07 | 0.11 | — | 64 | Energy Equities | HOOD vs FENY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HOOD, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HOOD and solid risk/return profiles. The least correlated is Duke Energy Corporation (DUK) (Utilities) with a 1Y correlation of -0.22, down from -0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Duke Energy Corporation | -0.22 | -0.11 | -0.05 | 53 | Utilities | |
| Walmart Inc. | -0.19 | 0.04 | 0.09 | 63 | Consumer Defensive | |
| Altria Group, Inc. | -0.19 | -0.03 | 0.01 | 69 | Consumer Defensive | |
| The Coca-Cola Company | -0.19 | -0.06 | — | 66 | Consumer Defensive | |
| Verizon Communications Inc. | -0.19 | -0.09 | — | 59 | Communication Services |
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