Looking to diversify beyond HYDW? The ETFs below have historically moved differently from HYDW, 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 HYDW
284 ETFs have low correlation with HYDW (below 0.3), 103 of which are negatively correlated. The least correlated is ProShares UltraShort Yen (YCS) (Leveraged Currency) with a 1Y correlation of -0.42, down from -0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| ProShares UltraShort Yen | -0.43 | -0.28 | -0.27 | 56 | Leveraged Currency | HYDW vs YCS | |
| Invesco DB Energy Fund | -0.39 | -0.14 | 0.02 | 72 | Oil & Gas | HYDW vs DBE | |
| United States Brent Oil Fund LP | -0.39 | -0.14 | 0.01 | 52 | Oil & Gas | HYDW vs BNO | |
| United States Oil Fund LP | -0.39 | -0.14 | 0.01 | 55 | Oil & Gas | HYDW vs USO | |
| United States Gasoline Fund LP | -0.37 | -0.12 | 0.02 | 87 | Oil & Gas | HYDW vs UGA |
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