Looking to balance out your exposure to HOV? The ETFs below have the lowest correlation with HOV — they tend to move on their own, which can help reduce risk when HOV drops. The stock ideas table highlights individual companies that behave independently from HOV.
Best Diversifiers for HOV
0 ETFs have low correlation with HOV (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.38, down from 0.51 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.38 | 0.45 | 0.51 | 70 | S&P 500 | HOV vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HOV, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HOV and solid risk/return profiles. The least correlated is Marathon Petroleum Corporation (MPC) (Energy) with a 1Y correlation of 0.04, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Marathon Petroleum Corporation | 0.04 | 0.18 | 0.22 | 86 | Energy | |
| Frontline Ltd. | 0.06 | 0.09 | 0.12 | 89 | Energy | |
| Teekay Tankers Ltd. | 0.07 | 0.12 | 0.12 | 82 | Energy | |
| Costamare Inc. | 0.15 | 0.17 | 0.21 | 91 | Industrials | |
| ASE Technology Holding Co., Ltd. | 0.17 | 0.27 | 0.31 | 99 | Technology |
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