Looking to diversify beyond HOOX? The ETFs below have the lowest correlation with HOOX — 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 HOOX.
Best Diversifiers for HOOX
594 ETFs have low correlation with HOOX (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 | HOOX vs MSTZ | |
| Defiance Daily Target 2X Short MSTR ETF | -0.62 | — | — | 60 | Inverse Equities | HOOX vs SMST | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.60 | — | — | 70 | Derivative Income | HOOX vs WNTR | |
| ProShares Short Bitcoin ETF | -0.58 | -0.56 | -0.56 | 57 | Cryptocurrency | HOOX vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.58 | -0.56 | -0.56 | 52 | Cryptocurrency, Leveraged Cryptocurrency | HOOX vs SBIT |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HOOX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HOOX and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bloom Energy Corporation | 0.29 | — | — | 98 | Industrials | |
| Rigetti Computing Inc | 0.51 | — | — | 57 | Technology | |
| Robinhood Markets, Inc. | 1.00 | — | — | 52 | Financial Services |
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