Looking to balance out your exposure to HROW? The ETFs below have the lowest correlation with HROW — they tend to move on their own, which can help reduce risk when HROW drops. The stock ideas table highlights individual companies that behave independently from HROW.
Best Diversifiers for HROW
2 ETFs have low correlation with HROW (below 0.3), 0 of which are negatively correlated. The least correlated is ProShares Ultra Semiconductors (USD) (Leveraged Equities) with a 1Y correlation of 0.24, roughly unchanged from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Semiconductors | 0.24 | 0.26 | 0.25 | 82 | Leveraged Equities, Semiconductors | HROW vs USD | |
| VanEck Semiconductor ETF | 0.29 | 0.29 | 0.26 | 94 | Semiconductors, Technology Equities | HROW vs SMH | |
| Vanguard Information Technology ETF | 0.31 | 0.32 | 0.28 | 58 | Technology Equities | HROW vs VGT | |
| Vanguard S&P 500 ETF | 0.42 | 0.39 | 0.32 | 60 | S&P 500 | HROW vs VOO | |
| State Street SPDR S&P 500 ETF | 0.42 | 0.39 | 0.32 | 60 | S&P 500 | HROW vs SPY |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HROW, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HROW and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.15, roughly unchanged from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.15 | 0.21 | 0.22 | 70 | Technology | |
| Halozyme Therapeutics, Inc. | 0.15 | 0.19 | 0.18 | 69 | Healthcare | |
| UnitedHealth Group Incorporated | 0.16 | 0.12 | 0.09 | 68 | Healthcare | |
| Apple Inc | 0.19 | 0.17 | 0.16 | 88 | Technology | |
| Tesla, Inc. | 0.19 | 0.21 | 0.19 | 50 | Consumer Cyclical |
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