Looking to balance out your exposure to HSBC? The ETFs below have the lowest correlation with HSBC — they tend to move on their own, which can help reduce risk when HSBC drops. The stock ideas table highlights individual companies that behave independently from HSBC.
Best Diversifiers for HSBC
45 ETFs have low correlation with HSBC (below 0.3), 11 of which are negatively correlated. The least correlated is United States Oil Fund LP (USO) (Oil & Gas) with a 1Y correlation of -0.32, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Oil Fund LP | -0.32 | -0.07 | 0.06 | 66 | Oil & Gas | HSBC vs USO | |
| ProShares Ultra Bloomberg Crude Oil | -0.24 | -0.03 | 0.09 | 54 | Leveraged Commodities | HSBC vs UCO | |
| Invesco DB Commodity Index Tracking Fund | -0.19 | 0.05 | 0.14 | 75 | Commodities | HSBC vs DBC | |
| Invesco Optimum Yield Diversified Commodity Strate... | -0.12 | 0.06 | 0.13 | 74 | Commodities | HSBC vs PDBC | |
| State Street Energy Select Sector SPDR ETF | -0.10 | 0.13 | 0.25 | 63 | Energy Equities | HSBC vs XLE |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HSBC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HSBC and solid risk/return profiles. The least correlated is Plains All American Pipeline, L.P. (PAA) (Energy) with a 1Y correlation of -0.19, down from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Plains All American Pipeline, L.P. | -0.19 | 0.16 | 0.29 | 87 | Energy | |
| ConocoPhillips Company | -0.16 | 0.06 | 0.20 | 76 | Energy | |
| EOG Resources, Inc. | -0.16 | 0.07 | 0.22 | 69 | Energy | |
| Diamondback Energy, Inc. | -0.16 | 0.09 | 0.23 | 82 | Energy | |
| Chevron Corporation | -0.14 | 0.08 | 0.21 | 83 | Energy |
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