In these early days of the Trump administration, it has paid to hedge your bets.

The U.S. stock market has been troubled. For one day two weeks ago, the S&P 500 was consigned to the dubious territory that Wall Street calls a “correction,” meaning that stocks had fallen more than 10 percent from their peak. The market has climbed back a bit, but watching U.S. stocks struggle day by day is a recipe for indigestion.