Looking to diversify beyond HOOY? The ETFs below have the lowest correlation with HOOY — 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 HOOY.
Best Diversifiers for HOOY
575 ETFs have low correlation with HOOY (below 0.3), 77 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 | -0.60 | — | — | 60 | Inverse Equities, Leveraged Equities | HOOY vs MSTZ | |
| Defiance Daily Target 2X Short MSTR ETF | -0.60 | — | — | 53 | Inverse Equities | HOOY vs SMST | |
| YieldMax Short MSTR Option Income Strategy ETF | -0.58 | — | — | 65 | Derivative Income | HOOY vs WNTR | |
| Return Stacked Bonds & Futures Yield ETF | -0.20 | — | — | 51 | Multistrategy | HOOY vs RSBY | |
| Direxion Daily NFLX Bear 1X Shares | -0.20 | — | — | 60 | Inverse Equities | HOOY vs NFXS |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HOOY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HOOY and solid risk/return profiles.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.21 | — | — | 82 | Consumer Defensive | |
| Chubb Limited | -0.19 | -0.17 | -0.17 | 83 | Financial Services | |
| Walmart Inc. | -0.17 | — | — | 70 | Consumer Defensive | |
| DaVita Inc. | -0.09 | — | — | 84 | Healthcare | |
| MPLX LP | -0.01 | — | — | 82 | Energy |
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Build a portfolio that complements HOOY
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