Looking to balance out your exposure to HWKN? The ETFs below have the lowest correlation with HWKN — they tend to move on their own, which can help reduce risk when HWKN drops. The stock ideas table highlights individual companies that behave independently from HWKN.
Best Diversifiers for HWKN
4 ETFs have low correlation with HWKN (below 0.3), 1 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.00, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.00 | 0.04 | 0.02 | 100 | Ultrashort Bond | HWKN vs SGOV | |
| Invesco QQQ ETF | 0.28 | 0.35 | 0.35 | 74 | Nasdaq-100 | HWKN vs QQQ | |
| VanEck Semiconductor ETF | 0.29 | 0.31 | 0.32 | 96 | Semiconductors, Technology Equities | HWKN vs SMH | |
| SP Funds S&P 500 Sharia Industry Exclusions ETF | 0.29 | 0.36 | 0.39 | 82 | S&P 500 | HWKN vs SPUS | |
| Wahed FTSE USA Shariah ETF | 0.31 | 0.38 | 0.41 | 89 | Large Cap Growth Equities | HWKN vs HLAL |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HWKN, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HWKN and solid risk/return profiles. The least correlated is Eli Lilly and Company (LLY) (Healthcare) with a 1Y correlation of -0.06, down from 0.09 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Eli Lilly and Company | -0.06 | 0.06 | 0.09 | 75 | Healthcare | |
| Altria Group, Inc. | -0.05 | 0.05 | 0.16 | 73 | Consumer Defensive | |
| Duke Energy Corporation | -0.01 | 0.06 | 0.16 | 57 | Utilities | |
| Coca-Cola Consolidated, Inc. | 0.01 | 0.17 | 0.22 | 81 | Consumer Defensive | |
| Gilead Sciences, Inc. | 0.04 | 0.07 | 0.13 | 65 | Healthcare |
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