Looking to diversify beyond FHQ.TO? The ETFs below have the lowest correlation with FHQ.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FHQ.TO.
Best Diversifiers for FHQ.TO
3 ETFs have low correlation with FHQ.TO (below 0.3), 0 of which are negatively correlated. The least correlated is First Trust Global Risk Managed Income Index ETF (ETP.TO) (Global Equity Income) with a 1Y correlation of 0.05, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| First Trust Global Risk Managed Income Index ETF | 0.05 | 0.14 | 0.22 | 92 | Global Equity Income | FHQ.TO vs ETP.TO | |
| First Trust International Capital Strength ETF | 0.17 | 0.17 | 0.25 | 55 | International Equity | FHQ.TO vs FINT.TO | |
| First Trust Indxx Innovative Transaction and Proce... | 0.22 | 0.19 | 0.30 | 68 | Blockchain | FHQ.TO vs BLCK.TO | |
| Alphabet (GOOGL) Yield Shares Purpose ETF | 0.34 | 0.36 | — | 93 | Derivative Income, Technology Equities | FHQ.TO vs YGOG.NEO | |
| First Trust Canadian Capital Strength ETF | 0.37 | 0.39 | 0.36 | 84 | Canada Equities | FHQ.TO vs FST.TO |
See all 11 diversifiers for FHQ.TO
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