Looking to diversify beyond HOOW? The ETFs below have the lowest correlation with HOOW — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from HOOW.
Best Diversifiers for HOOW
598 ETFs have low correlation with HOOW (below 0.3), 89 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.62 | — | — | 68 | Inverse Equities, Leveraged Equities | HOOW vs MSTZ | |
| Defiance Daily Target 2X Short MSTR ETF | -0.62 | — | — | 60 | Inverse Equities | HOOW vs SMST | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.60 | — | — | 70 | Derivative Income | HOOW vs WNTR | |
| ProShares Short Bitcoin ETF | -0.59 | -0.59 | -0.59 | 57 | Cryptocurrency | HOOW vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.58 | -0.59 | -0.59 | 52 | Cryptocurrency, Leveraged Cryptocurrency | HOOW vs SBIT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HOOW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HOOW and solid risk/return profiles. The least correlated is MPLX LP (MPLX) (Energy) with a 1Y correlation of -0.01, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| MPLX LP | -0.01 | -0.01 | -0.01 | 82 | Energy | |
| Robinhood Markets, Inc. | 1.00 | — | — | 52 | Financial Services |
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