Looking to diversify beyond GDXD.TO? The ETFs below have the lowest correlation with GDXD.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 GDXD.TO.
Best Diversifiers for GDXD.TO
9 ETFs have low correlation with GDXD.TO (below 0.3), 9 of which are negatively correlated. The least correlated is Global X S&P/TSX 60 Index Corporate Class ETF (HXT.TO) (Canada Equities) with a 1Y correlation of -0.62, down from -0.42 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X S&P/TSX 60 Index Corporate Class ETF | -0.62 | -0.50 | -0.42 | 89 | Canada Equities | GDXD.TO vs HXT.TO | |
| Global X Equal Weight Banks Index ETF | -0.31 | — | — | 98 | Financials Equities, Equal Weight | GDXD.TO vs HBNK.TO | |
| Global X Artificial Intelligence Semiconductor Ind... | -0.29 | -0.21 | -0.19 | 94 | Semiconductors, Technology Equities | GDXD.TO vs CHPS.TO | |
| Global X Enhanced S&P 500 Covered Call ETF | -0.28 | — | — | 84 | Derivative Income, S&P 500 | GDXD.TO vs USCL.TO | |
| Global X Enhanced NASDAQ-100 Covered Call ETF | -0.27 | — | — | 85 | Nasdaq-100, Derivative Income | GDXD.TO vs QQCL.TO |
See all 9 diversifiers for GDXD.TO
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