Looking to balance out your exposure to HRZN? The ETFs below have the lowest correlation with HRZN — they tend to move on their own, which can help reduce risk when HRZN drops. The stock ideas table highlights individual companies that behave independently from HRZN.
Best Diversifiers for HRZN
2 ETFs have low correlation with HRZN (below 0.3), 0 of which are negatively correlated. The least correlated is Schwab U.S. Dividend Equity ETF (SCHD) (Dividend) with a 1Y correlation of 0.23, down from 0.41 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab U.S. Dividend Equity ETF | 0.23 | 0.34 | 0.41 | 80 | Dividend | HRZN vs SCHD | |
| SPDR Portfolio High Yield Bond ETF | 0.30 | 0.32 | 0.39 | 62 | High Yield Bonds | HRZN vs SPHY | |
| Vanguard S&P 500 ETF | 0.32 | 0.30 | 0.41 | 70 | S&P 500 | HRZN vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HRZN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HRZN and solid risk/return profiles. The least correlated is Dynex Capital, Inc. (DX) (Real Estate) with a 1Y correlation of 0.25, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Dynex Capital, Inc. | 0.25 | 0.34 | 0.40 | 74 | Real Estate | |
| Orchid Island Capital, Inc. | 0.26 | 0.34 | 0.39 | 61 | Real Estate | |
| AGNC Investment Corp. | 0.30 | 0.34 | 0.39 | 76 | Real Estate | |
| Trinity Capital Inc. | 0.39 | 0.40 | 0.40 | 80 | Financial Services | |
| Capital Southwest Corporation | 0.48 | 0.47 | 0.48 | 76 | Financial Services |
Build a portfolio that complements HRZN
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