Looking to balance out your exposure to HPQ? The ETFs below have historically moved differently from HPQ, 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 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 0.15, down from 0.48 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.15 | 0.35 | 0.48 | 54 | Nasdaq-100 | HPQ vs QQQ | |
| Vanguard S&P 500 ETF | 0.20 | 0.40 | 0.54 | 72 | S&P 500 | HPQ vs VOO | |
| State Street SPDR S&P 500 ETF | 0.20 | 0.40 | 0.54 | 71 | S&P 500 | HPQ vs SPY | |
| iShares Core S&P 500 ETF | 0.21 | 0.41 | 0.54 | 72 | S&P 500 | HPQ vs IVV | |
| Vanguard Total Stock Market ETF | 0.22 | 0.42 | 0.55 | 71 | Large Cap Blend Equities | HPQ vs VTI |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HPQ, 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 Altria Group, Inc. (MO) (Consumer Defensive) with a 1Y correlation of -0.07, down from 0.12 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Altria Group, Inc. | -0.07 | 0.02 | 0.12 | 63 | Consumer Defensive | |
| NVIDIA Corporation | -0.06 | 0.16 | 0.35 | 63 | Technology | |
| Philip Morris International Inc. | -0.05 | 0.03 | 0.14 | 63 | Consumer Defensive | |
| RTX Corporation | -0.05 | 0.05 | 0.22 | 84 | Industrials | |
| Lockheed Martin Corporation | -0.04 | -0.03 | 0.07 | 76 | Industrials |
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