Looking to balance out your exposure to H.TO? The ETFs below have the lowest correlation with H.TO — they tend to move on their own, which can help reduce risk when H.TO drops. The stock ideas table highlights individual companies that behave independently from H.TO.
Best Diversifiers for H.TO
11 ETFs have low correlation with H.TO (below 0.3), 7 of which are negatively correlated. The least correlated is Fidelity Global Innovators ETF (FINN.NEO) (Global Equities) with a 1Y correlation of -0.31, down from -0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Global Innovators ETF | -0.31 | -0.04 | — | 89 | Global Equities | H.TO vs FINN.NEO | |
| iShares Core S&P 500 Index ETF | -0.24 | 0.03 | 0.07 | 79 | S&P 500 | H.TO vs XUS.TO | |
| Global X S&P 500 Index Corporate Class ETF | -0.22 | 0.03 | 0.07 | 76 | S&P 500 | H.TO vs HXS.TO | |
| iShares Core Equity ETF Portfolio | -0.20 | 0.11 | 0.12 | 86 | Global Equities | H.TO vs XEQT.TO | |
| Hamilton Enhanced Canadian Covered Call ETF | -0.13 | 0.21 | — | 95 | Derivative Income | H.TO vs HDIV.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from H.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to H.TO and solid risk/return profiles. The least correlated is Teck Resources Limited (TECK-B.TO) (Basic Materials) with a 1Y correlation of -0.18, down from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Teck Resources Limited | -0.18 | 0.01 | -0.01 | 80 | Basic Materials | |
| Brookfield Corporation | -0.17 | 0.18 | 0.16 | 87 | Financial Services | |
| Capital Power Corporation | -0.16 | 0.14 | 0.24 | 74 | Utilities | |
| First Quantum Minerals Ltd. | -0.16 | 0.03 | -0.02 | 76 | Basic Materials | |
| Brookfield Infrastructure Partners L.P. | -0.12 | 0.23 | 0.25 | 81 | Utilities |
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Build a portfolio that complements H.TO
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