Looking to balance out your exposure to HPQ? The ETFs below have the lowest correlation with HPQ — they tend to move on their own, which can help reduce risk when HPQ drops. The stock ideas table highlights individual companies that behave independently from HPQ.
Best Diversifiers for HPQ
5 ETFs have low correlation with HPQ (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.19, down from 0.49 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.19 | 0.37 | 0.49 | 53 | Nasdaq-100 | HPQ vs QQQ | |
| Vanguard S&P 500 ETF | 0.22 | 0.41 | 0.54 | 66 | S&P 500 | HPQ vs VOO | |
| iShares Core S&P 500 ETF | 0.23 | 0.42 | 0.55 | 66 | S&P 500 | HPQ vs IVV | |
| State Street SPDR S&P 500 ETF | 0.24 | 0.42 | 0.55 | 65 | S&P 500 | HPQ vs SPY | |
| Vanguard Total Stock Market ETF | 0.24 | 0.43 | 0.56 | 66 | Large Cap Blend Equities | HPQ vs VTI |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HPQ, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HPQ and solid risk/return profiles. The least correlated is Philip Morris International Inc. (PM) (Consumer Defensive) with a 1Y correlation of -0.12, down from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Philip Morris International Inc. | -0.12 | 0.01 | 0.13 | 52 | Consumer Defensive | |
| Altria Group, Inc. | -0.12 | 0.01 | 0.12 | 80 | Consumer Defensive | |
| Johnson & Johnson | -0.07 | 0.05 | 0.11 | 96 | Healthcare | |
| NVIDIA Corporation | -0.06 | 0.17 | 0.36 | 63 | Technology | |
| RTX Corporation | -0.05 | 0.05 | 0.22 | 77 | Industrials |
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