Looking to balance out your exposure to HXL? The ETFs below have the lowest correlation with HXL — they tend to move on their own, which can help reduce risk when HXL drops. The stock ideas table highlights individual companies that behave independently from HXL.
Best Diversifiers for HXL
0 ETFs have low correlation with HXL (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Core S&P 500 ETF (IVV) (S&P 500) with a 1Y correlation of 0.37, down from 0.53 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core S&P 500 ETF | 0.37 | 0.44 | 0.53 | 70 | S&P 500 | HXL vs IVV | |
| State Street SPDR S&P 500 ETF | 0.37 | 0.45 | 0.53 | 70 | S&P 500 | HXL vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HXL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HXL and solid risk/return profiles. The least correlated is The PNC Financial Services Group, Inc. (PNC) (Financial Services) with a 1Y correlation of 0.24, down from 0.44 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The PNC Financial Services Group, Inc. | 0.24 | 0.34 | 0.44 | 72 | Financial Services | |
| Tapestry, Inc. | 0.33 | 0.31 | 0.42 | 85 | Consumer Cyclical | |
| Citizens Financial Group, Inc. | 0.37 | 0.37 | 0.47 | 85 | Financial Services | |
| Mercury Systems, Inc. | 0.42 | 0.36 | 0.37 | 86 | Industrials | |
| Textron Inc. | 0.49 | 0.48 | 0.57 | 65 | Industrials |
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