Looking to diversify beyond HBAL.TO? The ETFs below have historically moved differently from HBAL.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for HBAL.TO
8 ETFs have low correlation with HBAL.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of 0.02, roughly unchanged from 0.03 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | 0.02 | 0.05 | 0.03 | 100 | Money Market | HBAL.TO vs CASH.TO | |
| Exemplar Growth and Income Fund | 0.04 | 0.02 | 0.04 | 84 | Tactical Allocation, Diversified Portfolio | HBAL.TO vs EGIF.TO | |
| Global X 0-3 Month T-Bill ETF | 0.08 | 0.05 | — | 99 | Canadian Government Bonds | HBAL.TO vs CBIL.TO | |
| Global X Cash Maximizer Corporate Class ETF | 0.16 | 0.08 | 0.05 | 63 | Money Market | HBAL.TO vs HSAV.TO | |
| Franklin Growth ETF Portfolio | 0.23 | — | — | 93 | Diversified Portfolio | HBAL.TO vs GRO.TO |
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