Looking to balance out your exposure to HQY? The ETFs below have the lowest correlation with HQY — they tend to move on their own, which can help reduce risk when HQY drops. The stock ideas table highlights individual companies that behave independently from HQY.
Best Diversifiers for HQY
0 ETFs have low correlation with HQY (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.30, roughly unchanged from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.30 | 0.25 | 0.26 | 73 | Nasdaq-100 | HQY vs QQQ | |
| State Street SPDR S&P 500 ETF | 0.33 | 0.29 | 0.31 | 70 | S&P 500 | HQY vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HQY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HQY and solid risk/return profiles. The least correlated is UnitedHealth Group Incorporated (UNH) (Healthcare) with a 1Y correlation of 0.14, roughly unchanged from 0.17 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| UnitedHealth Group Incorporated | 0.14 | 0.14 | 0.17 | 61 | Healthcare | |
| JPMorgan Chase & Co. | 0.17 | 0.25 | 0.31 | 59 | Financial Services | |
| CrowdStrike Holdings, Inc. | 0.22 | 0.24 | 0.22 | 70 | Technology | |
| Aveanna Healthcare Holdings Inc. | 0.25 | 0.19 | 0.19 | 54 | Healthcare | |
| BrightSpring Health Services Inc. Tangible Equity ... | 0.25 | 0.23 | 0.23 | 96 | Healthcare |
Build a portfolio that complements HQY
Add HQY to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HQY