Looking to balance out your exposure to HZO? The ETFs below have the lowest correlation with HZO — they tend to move on their own, which can help reduce risk when HZO drops. The stock ideas table highlights individual companies that behave independently from HZO.
Best Diversifiers for HZO
0 ETFs have low correlation with HZO (below 0.3), 0 of which are negatively correlated. The least correlated is State Street SPDR S&P 500 ETF (SPY) (S&P 500) with a 1Y correlation of 0.48, roughly unchanged from 0.50 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | 0.48 | 0.48 | 0.50 | 74 | S&P 500 | HZO vs SPY |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HZO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HZO and solid risk/return profiles. The least correlated is TORM plc (TRMD) (Energy) with a 1Y correlation of 0.12, roughly unchanged from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| TORM plc | 0.12 | 0.15 | 0.15 | 88 | Energy | |
| Tidewater Inc. | 0.23 | 0.27 | 0.23 | 80 | Energy | |
| Alphabet Inc. Class A | 0.26 | 0.24 | 0.29 | 96 | Communication Services | |
| Oceaneering International, Inc. | 0.29 | 0.31 | 0.31 | 91 | Energy | |
| Clean Harbors, Inc. | 0.36 | 0.39 | 0.38 | 70 | Industrials |
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