Looking to balance out your exposure to HWM? The ETFs below have the lowest correlation with HWM — they tend to move on their own, which can help reduce risk when HWM drops. The stock ideas table highlights individual companies that behave independently from HWM.
Best Diversifiers for HWM
111 ETFs have low correlation with HWM (below 0.3), 14 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.12, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.12 | -0.05 | -0.03 | 100 | Ultrashort Bond | HWM vs SGOV | |
| State Street Energy Select Sector SPDR ETF | -0.11 | 0.13 | 0.32 | 63 | Energy Equities | HWM vs XLE | |
| Vanguard Energy ETF | -0.09 | 0.15 | 0.33 | 64 | Energy Equities | HWM vs VDE | |
| iShares Treasury Floating Rate Bond ETF | -0.09 | -0.00 | -0.02 | 100 | Government Bonds, Ultrashort Bond | HWM vs TFLO | |
| WisdomTree Floating Rate Treasury Fund | -0.08 | 0.04 | 0.03 | 100 | Government Bonds, Ultrashort Bond | HWM vs USFR |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HWM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HWM and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.16, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.16 | 0.07 | 0.25 | 76 | Energy | |
| EOG Resources, Inc. | -0.15 | 0.04 | 0.22 | 69 | Energy | |
| Vista Oil & Gas, S.A.B. de C.V. | -0.15 | 0.10 | 0.22 | 68 | Energy | |
| Exxon Mobil Corporation | -0.15 | 0.05 | 0.23 | 85 | Energy | |
| Marathon Petroleum Corporation | -0.14 | 0.10 | 0.29 | 86 | Energy |
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