Looking to balance out your exposure to HWM? The ETFs below have historically moved differently from HWM, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for HWM
115 ETFs have low correlation with HWM (below 0.3), 26 of which are negatively correlated. The least correlated is WisdomTree Floating Rate Treasury Fund (USFR) (Government Bonds) with a 1Y correlation of -0.17, down from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| WisdomTree Floating Rate Treasury Fund | -0.17 | -0.04 | 0.00 | 100 | Government Bonds, Ultrashort Bond | HWM vs USFR | |
| United States Oil Fund LP | -0.16 | -0.02 | 0.09 | 55 | Oil & Gas | HWM vs USO | |
| State Street Energy Select Sector SPDR ETF | -0.16 | 0.09 | 0.27 | 76 | Energy Equities | HWM vs XLE | |
| iShares Treasury Floating Rate Bond ETF | -0.14 | -0.08 | -0.08 | 100 | Government Bonds, Ultrashort Bond | HWM vs TFLO | |
| Vanguard Energy ETF | -0.14 | 0.10 | 0.29 | 76 | Energy Equities | HWM vs VDE |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HWM, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Phillips 66 (PSX) (Energy) with a 1Y correlation of -0.23, down from 0.22 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Phillips 66 | -0.23 | 0.05 | 0.22 | 94 | Energy | |
| EOG Resources, Inc. | -0.19 | 0.00 | 0.18 | 72 | Energy | |
| ConocoPhillips Company | -0.18 | 0.03 | 0.21 | 72 | Energy | |
| Valero Energy Corporation | -0.18 | 0.03 | 0.19 | 98 | Energy | |
| HF Sinclair Corp | -0.17 | 0.04 | 0.20 | 96 | Energy |
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