Looking to balance out your exposure to HQY? The ETFs below have historically moved differently from HQY, 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 HQY
1 ETFs have low correlation with HQY (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 0.24, roughly unchanged from 0.29 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 | 0.24 | 0.27 | 0.29 | 67 | S&P 500 | HQY vs SPY |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HQY, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| BrightSpring Health Services Inc. Tangible Equity ... | 0.12 | — | — | 99 | Healthcare | |
| JPMorgan Chase & Co. | 0.12 | 0.23 | 0.28 | 71 | Financial Services | |
| UnitedHealth Group Incorporated | 0.13 | 0.14 | 0.17 | 86 | Healthcare | |
| McKesson Corporation | 0.14 | 0.16 | 0.17 | 67 | Healthcare | |
| Collegium Pharmaceutical, Inc. | 0.21 | 0.19 | 0.23 | 58 | Healthcare |
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