Looking to balance out your exposure to HPP? The ETFs below have historically moved differently from HPP, 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 HPP
1 ETFs have low correlation with HPP (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 0.25, down from 0.40 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.25 | 0.32 | 0.40 | 67 | S&P 500 | HPP vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HPP, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Johnson & Johnson (JNJ) (Healthcare) with a 1Y correlation of -0.06, down from 0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Johnson & Johnson | -0.06 | 0.07 | 0.11 | 97 | Healthcare | |
| Baidu, Inc. | 0.09 | 0.15 | 0.18 | 61 | Communication Services | |
| Molina Healthcare, Inc. | 0.11 | 0.13 | 0.16 | 59 | Healthcare | |
| JD.com, Inc. | 0.12 | 0.17 | 0.18 | 52 | Consumer Cyclical | |
| The RealReal, Inc. | 0.20 | 0.29 | 0.35 | 85 | Consumer Cyclical |
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