Looking to balance out your exposure to HSY? The ETFs below have the lowest correlation with HSY — they tend to move on their own, which can help reduce risk when HSY drops. The stock ideas table highlights individual companies that behave independently from HSY.
Best Diversifiers for HSY
269 ETFs have low correlation with HSY (below 0.3), 72 of which are negatively correlated. The least correlated is YieldMax NVDA Option Income Strategy ETF (NVDY) (Derivative Income) with a 1Y correlation of -0.17, roughly unchanged from -0.13 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| YieldMax NVDA Option Income Strategy ETF | -0.17 | -0.13 | — | 52 | Derivative Income, Options Trading | HSY vs NVDY | |
| Roundhill Generative AI & Technology ETF | -0.16 | -0.11 | — | 94 | Technology Equities | HSY vs CHAT | |
| iShares U.S. Technology ETF | -0.16 | -0.07 | 0.01 | 75 | Technology Equities | HSY vs IYW | |
| Direxion Daily MU Bull 2X Shares | -0.14 | — | — | 99 | Leveraged Equities | HSY vs MUU | |
| Direxion Daily Technology Bull 3X Shares | -0.14 | -0.05 | 0.04 | 85 | Leveraged Equities, Technology Equities | HSY vs TECL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HSY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HSY and solid risk/return profiles. The least correlated is CrowdStrike Holdings, Inc. (CRWD) (Technology) with a 1Y correlation of -0.29, down from -0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| CrowdStrike Holdings, Inc. | -0.29 | -0.15 | -0.09 | 70 | Technology | |
| AppLovin Corporation | -0.20 | -0.14 | -0.09 | 59 | Technology | |
| Palo Alto Networks, Inc. | -0.19 | -0.05 | -0.01 | 67 | Technology | |
| NVIDIA Corporation | -0.16 | -0.13 | -0.07 | 78 | Technology | |
| Oracle Corporation | -0.16 | -0.05 | 0.05 | 58 | Technology |
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