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
556 ETFs have low correlation with HOOW (below 0.3), 79 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.19, roughly unchanged from -0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.19 | -0.19 | -0.19 | 66 | Oil & Gas | HOOW vs USO | |
| United States Gasoline Fund LP | -0.19 | -0.19 | -0.19 | 69 | Oil & Gas | HOOW vs UGA | |
| United States Brent Oil Fund LP | -0.17 | -0.17 | -0.17 | 65 | Oil & Gas | HOOW vs BNO | |
| ProShares Ultra Bloomberg Crude Oil | -0.14 | -0.14 | -0.14 | 54 | Leveraged Commodities | HOOW vs UCO | |
| Credit Suisse X-Links Crude Oil Shares Covered Cal... | -0.12 | -0.12 | -0.12 | 64 | Commodities | HOOW vs USOI |
See all 2092 diversifiers for HOOW
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