Looking to balance out your exposure to HPE? The ETFs below have the lowest correlation with HPE — they tend to move on their own, which can help reduce risk when HPE drops. The stock ideas table highlights individual companies that behave independently from HPE.
Best Diversifiers for HPE
1 ETFs have low correlation with HPE (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.29, down from 0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.29 | 0.35 | 0.50 | 77 | Dividend | HPE vs SCHD | |
| Vanguard International High Dividend Yield ETF | 0.34 | 0.37 | 0.49 | 70 | Dividend, Foreign Large Cap Equities | HPE vs VYMI | |
| State Street SPDR Dow Jones Industrial Average ETF... | 0.45 | 0.44 | 0.54 | 56 | Large Cap Blend Equities | HPE vs DIA | |
| Vanguard High Dividend Yield ETF | 0.49 | 0.49 | 0.58 | 75 | Dividend | HPE vs VYM | |
| VanEck Semiconductor ETF | 0.51 | 0.56 | 0.58 | 94 | Semiconductors, Technology Equities | HPE vs SMH |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HPE, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HPE and solid risk/return profiles. The least correlated is Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.21, down from 0.07 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.21 | -0.10 | 0.07 | 72 | Consumer Defensive | |
| Pinnacle West Capital Corporation | -0.17 | -0.07 | 0.06 | 76 | Utilities | |
| Johnson & Johnson | -0.17 | -0.08 | 0.03 | 96 | Healthcare | |
| The Coca-Cola Company | -0.15 | -0.11 | 0.06 | 74 | Consumer Defensive | |
| The Allstate Corporation | -0.10 | 0.04 | 0.20 | 67 | Financial Services |
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