Looking to diversify beyond HOOY? The ETFs below have historically moved differently from HOOY, 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 HOOY
692 ETFs have low correlation with HOOY (below 0.3), 123 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| T-REX 2X Inverse MSTR Daily Target ETF | -0.62 | — | — | 61 | Inverse Equities, Leveraged Equities | HOOY vs MSTZ | |
| Defiance Daily Target 2X Short MSTR ETF | -0.61 | — | — | 52 | Inverse Equities | HOOY vs SMST | |
| YieldMax MSTR Short Option Income Strategy ETF | -0.60 | — | — | 75 | Derivative Income | HOOY vs WNTR | |
| ProShares Short Bitcoin ETF | -0.58 | — | — | 61 | Cryptocurrency | HOOY vs BITI | |
| Proshares Ultrashort Bitcoin ETF | -0.58 | — | — | 55 | Cryptocurrency, Leveraged Cryptocurrency | HOOY vs SBIT |
To view more results, upgrade your current subscription plan.
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HOOY, 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 |
|---|---|---|---|---|---|---|
| The Coca-Cola Company | -0.24 | — | — | 90 | Consumer Defensive | |
| Chubb Limited | -0.22 | -0.20 | -0.20 | 89 | Financial Services | |
| Walmart Inc. | -0.18 | -0.17 | -0.17 | 62 | Consumer Defensive | |
| DaVita Inc. | -0.10 | — | — | 89 | Healthcare | |
| MPLX LP | -0.05 | — | — | 79 | Energy |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements HOOY
Add HOOY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HOOY