Looking to diversify beyond HBGD.TO? The ETFs below have the lowest correlation with HBGD.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 HBGD.TO.
Best Diversifiers for HBGD.TO
8 ETFs have low correlation with HBGD.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.07, down from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.07 | 0.07 | 0.12 | 90 | Energy Equities, Canada Equities | HBGD.TO vs XEG.TO | |
| Global X High Interest Savings ETF | 0.03 | -0.01 | — | 100 | Money Market | HBGD.TO vs CASH.TO | |
| iShares MSCI Min Vol EAFE Index ETF | 0.07 | 0.15 | 0.18 | 60 | Foreign Large Cap Equities, Low Volatility | HBGD.TO vs XMI.TO | |
| iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged) | 0.10 | 0.15 | 0.21 | 73 | Foreign Large Cap Equities, Low Volatility | HBGD.TO vs XML.TO | |
| Vanguard Global Minimum Volatility ETF | 0.11 | 0.18 | 0.24 | 55 | Global Equities, Low Volatility | HBGD.TO vs VVO.TO |
See all 23 diversifiers for HBGD.TO
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Diversification Analysis
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