Looking to diversify beyond HOOX? The ETFs below have historically moved differently from HOOX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for HOOX
694 ETFs have low correlation with HOOX (below 0.3), 118 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Defiance Daily Target 2X Short MSTR ETF | -0.63 | — | — | 52 | Inverse Equities | HOOX vs SMST | |
| T-REX 2X Inverse MSTR Daily Target ETF | -0.63 | — | — | 61 | Inverse Equities, Leveraged Equities | HOOX vs MSTZ | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.62 | — | — | 75 | Derivative Income | HOOX vs WNTR | |
| ProShares Short Bitcoin ETF | -0.60 | — | — | 61 | Cryptocurrency | HOOX vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.60 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | HOOX vs SBIT |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HOOX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Bloom Energy Corporation | 0.32 | — | — | 97 | Industrials |
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