Looking to diversify beyond HBAL.TO? The ETFs below have the lowest correlation with HBAL.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 HBAL.TO.
Best Diversifiers for HBAL.TO
4 ETFs have low correlation with HBAL.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.04, roughly unchanged from 0.05 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.04 | 0.05 | — | 100 | Money Market | HBAL.TO vs CASH.TO | |
| Global X 0-3 Month T-Bill ETF | -0.02 | 0.03 | 0.03 | 99 | Canadian Government Bonds | HBAL.TO vs CBIL.TO | |
| Franklin Growth ETF Portfolio | 0.11 | — | — | 90 | Diversified Portfolio | HBAL.TO vs GRO.TO | |
| Global X Cash Maximizer Corporate Class ETF | 0.14 | 0.07 | 0.04 | 66 | Bank Loan | HBAL.TO vs HSAV.TO | |
| iShares ESG Conservative Balanced ETF Portfolio | 0.35 | 0.32 | 0.30 | 52 | Diversified Portfolio | HBAL.TO vs GCNS.TO |
See all 34 diversifiers for HBAL.TO
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