Looking to diversify beyond HBNK.TO? The ETFs below have historically moved differently from HBNK.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 HBNK.TO
26 ETFs have low correlation with HBNK.TO (below 0.3), 11 of which are negatively correlated. The least correlated is BetaPro Inverse Bitcoin ETF (BITI.TO) (Leveraged Cryptocurrency) with a 1Y correlation of -0.30, roughly unchanged from -0.28 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BetaPro Inverse Bitcoin ETF | -0.30 | -0.28 | — | 54 | Leveraged Cryptocurrency | HBNK.TO vs BITI.TO | |
| BetaPro S&P/TSX Capped Energy 2x Daily Bull ETF | -0.18 | 0.10 | — | 89 | Leveraged Equities | HBNK.TO vs NRGU.TO | |
| Global X S&P/TSX Capped Energy Index Corporate Cla... | -0.18 | 0.09 | — | 88 | Energy Equities | HBNK.TO vs HXE.TO | |
| Global X Equal Weight Canadian Oil & Gas Index ETF | -0.17 | — | — | 93 | Energy Equities, Equal Weight | HBNK.TO vs NRGY.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.15 | — | — | 92 | Energy Equities, Derivative Income | HBNK.TO vs ENCL.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HBNK.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.13, down from 0.09 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.13 | 0.09 | — | 93 | Energy | |
| Fortis Inc. | -0.11 | 0.20 | 0.20 | 87 | Utilities | |
| Enbridge Inc. | -0.01 | 0.24 | — | 87 | Energy | |
| Bird Construction Inc. | 0.30 | 0.34 | — | 96 | Industrials | |
| National Bank of Canada | 0.80 | 0.71 | 0.70 | 98 | Financial Services |
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