Looking to balance out your exposure to HOVR? The ETFs below have the lowest correlation with HOVR — they tend to move on their own, which can help reduce risk when HOVR drops. The stock ideas table highlights individual companies that behave independently from HOVR.
Best Diversifiers for HOVR
0 ETFs have low correlation with HOVR (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| VanEck Semiconductor ETF | 0.32 | — | — | 95 | Semiconductors, Technology Equities | HOVR vs SMH | |
| iShares Expanded Tech Sector ETF | 0.44 | — | — | 64 | Technology Equities | HOVR vs IGM | |
| Invesco Dorsey Wright Technology Momentum ETF | 0.44 | — | — | 82 | Momentum, Technology Equities | HOVR vs PTF | |
| Spear Alpha ETF | 0.48 | — | — | 67 | Technology Equities | HOVR vs SPRX | |
| Defiance Quantum ETF | 0.50 | — | — | 89 | Technology Equities | HOVR vs QTUM |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HOVR, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HOVR and solid risk/return profiles. The least correlated is AppLovin Corporation (APP) (Communication Services) with a 1Y correlation of 0.19, roughly unchanged from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AppLovin Corporation | 0.19 | 0.15 | 0.15 | 58 | Communication Services | |
| AST SpaceMobile, Inc. | 0.37 | 0.21 | 0.21 | 58 | Technology | |
| Eos Energy Enterprises Inc | 0.39 | — | — | 60 | Industrials | |
| Rocket Lab USA, Inc. | 0.40 | 0.24 | 0.24 | 83 | Industrials | |
| Red Cat Holdings, Inc. | 0.41 | 0.23 | 0.23 | 56 | Industrials |
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