Looking to balance out your exposure to NHYDY? The ETFs below have the lowest correlation with NHYDY — they tend to move on their own, which can help reduce risk when NHYDY drops. The stock ideas table highlights individual companies that behave independently from NHYDY.
Best Diversifiers for NHYDY
2 ETFs have low correlation with NHYDY (below 0.3), 0 of which are negatively correlated. The least correlated is United States Gasoline Fund LP (UGA) (Oil & Gas) with a 1Y correlation of 0.07, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| United States Gasoline Fund LP | 0.07 | 0.14 | 0.24 | 69 | Oil & Gas | NHYDY vs UGA | |
| Global X Hydrogen ETF | 0.27 | 0.40 | 0.40 | 92 | Alternative Energy Equities | NHYDY vs HYDR | |
| State Street SPDR S&P 500 ETF | 0.36 | 0.35 | 0.39 | 70 | S&P 500 | NHYDY vs SPY | |
| Vanguard S&P 500 ETF | 0.36 | 0.35 | 0.39 | 70 | S&P 500 | NHYDY vs VOO | |
| VanEck Vectors Rare Earth/Strategic Metals ETF | 0.41 | 0.50 | 0.53 | 87 | Materials | NHYDY vs REMX |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from NHYDY, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to NHYDY and solid risk/return profiles. The least correlated is Deutsche Lufthansa AG ADR (DLAKY) (Industrials) with a 1Y correlation of 0.10, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Deutsche Lufthansa AG ADR | 0.10 | 0.25 | 0.25 | 60 | Industrials | |
| Oscar Health, Inc. | 0.10 | 0.14 | 0.16 | 59 | Healthcare | |
| Carnival Corporation & Plc | 0.12 | 0.18 | 0.25 | 50 | Consumer Cyclical | |
| AstraZeneca PLC | 0.14 | 0.18 | 0.20 | 70 | Healthcare | |
| Planet Labs PBC | 0.14 | 0.25 | 0.24 | 99 | Industrials |
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