Looking to balance out your exposure to HYFM? The ETFs below have the lowest correlation with HYFM — they tend to move on their own, which can help reduce risk when HYFM drops. The stock ideas table highlights individual companies that behave independently from HYFM.
Best Diversifiers for HYFM
2 ETFs have low correlation with HYFM (below 0.3), 0 of which are negatively correlated. The least correlated is Invesco QQQ ETF (QQQ) (Nasdaq-100) with a 1Y correlation of 0.22, roughly unchanged from 0.32 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | 0.22 | 0.15 | 0.32 | 62 | Nasdaq-100 | HYFM vs QQQ | |
| Vanguard S&P 500 ETF | 0.23 | 0.18 | 0.32 | 66 | S&P 500 | HYFM vs VOO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HYFM, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HYFM and solid risk/return profiles. The least correlated is QUALCOMM Incorporated (QCOM) (Technology) with a 1Y correlation of 0.04, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| QUALCOMM Incorporated | 0.04 | 0.10 | 0.24 | 70 | Technology | |
| NVIDIA Corporation | 0.10 | 0.08 | 0.26 | 76 | Technology | |
| Palo Alto Networks, Inc. | 0.13 | 0.11 | 0.22 | 65 | Technology | |
| CRISPR Therapeutics AG | 0.15 | 0.22 | 0.32 | 58 | Healthcare | |
| Tesla, Inc. | 0.17 | 0.13 | 0.25 | 64 | Consumer Cyclical |
To view more results, upgrade your current subscription plan.
Build a portfolio that complements HYFM
Add HYFM to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with HYFM