Looking to balance out your exposure to HSIC? The ETFs below have the lowest correlation with HSIC — they tend to move on their own, which can help reduce risk when HSIC drops. The stock ideas table highlights individual companies that behave independently from HSIC.
Best Diversifiers for HSIC
0 ETFs have low correlation with HSIC (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 ETF (VOO) (S&P 500) with a 1Y correlation of 0.34, roughly unchanged from 0.43 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 ETF | 0.34 | 0.34 | 0.43 | 74 | S&P 500 | HSIC vs VOO | |
| State Street SPDR S&P 500 ETF | 0.35 | 0.34 | 0.43 | 74 | S&P 500 | HSIC vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HSIC, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HSIC and solid risk/return profiles. The least correlated is NVIDIA Corporation (NVDA) (Technology) with a 1Y correlation of 0.03, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| NVIDIA Corporation | 0.03 | 0.03 | 0.14 | 80 | Technology | |
| Tesla, Inc. | 0.12 | 0.15 | 0.17 | 58 | Consumer Cyclical | |
| Cardinal Health, Inc. | 0.15 | 0.19 | 0.33 | 73 | Healthcare | |
| AbbVie Inc. | 0.18 | 0.22 | 0.31 | 68 | Healthcare | |
| Entergy Corporation | 0.21 | 0.20 | 0.27 | 86 | Utilities |
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