PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

Global X Equal Weight Banks Index ETF (HBNK.TO) Diversifiers

ETF · Currency in CAD · Last updated Jul 14, 2026

HBNK seeks to replicate the performance of an equal-weighted index of diversified Canadian banks, providing low-cost exposure to Canada's Big 6 Banks with a focus on stable dividend income and monthly distributions.

Looking to diversify beyond HBNK.TO? The ETFs below have the lowest correlation with HBNK.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 HBNK.TO.

Best Diversifiers for HBNK.TO

23 ETFs have low correlation with HBNK.TO (below 0.3), 10 of which are negatively correlated. The least correlated is BetaPro Inverse Bitcoin ETF (BITI.TO) (Leveraged Cryptocurrency) with a 1Y correlation of -0.29, roughly unchanged from -0.28 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
BITI.TO
BetaPro Inverse Bitcoin ETF-0.29-0.28-0.28
55
Leveraged CryptocurrencyHBNK.TO vs BITI.TO
DLR.TO
Global X U.S. Dollar Currency ETF-0.18-0.25—
51
CurrencyHBNK.TO vs DLR.TO
HXE.TO
Global X S&P/TSX Capped Energy Index Corporate Cla...-0.160.10—
77
Energy EquitiesHBNK.TO vs HXE.TO
ENCC.TO
Global X Canadian Oil and Gas Equity Covered Call ...-0.130.17—
89
Derivative Income, Energy EquitiesHBNK.TO vs ENCC.TO
NRGY.TO
Global X Equal Weight Canadian Oil & Gas Index ETF-0.13——
92
Energy Equities, Equal WeightHBNK.TO vs NRGY.TO
See all 94 diversifiers for HBNK.TO

To view more results, upgrade your current subscription plan.

Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from HBNK.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HBNK.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.12, down from 0.10 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
WCP.TO
Whitecap Resources Inc.-0.120.090.10
93
Energy
FTS.TO
Fortis Inc.-0.110.21—
93
Utilities
ENB.TO
Enbridge Inc.-0.030.24—
91
Energy
BDT.TO
Bird Construction Inc.0.290.33—
96
Industrials
NA.TO
National Bank of Canada0.770.690.69
98
Financial Services
See all 6 low-correlation stocks for HBNK.TO

To view more results, upgrade your current subscription plan.

Diversification Analysis

Build a portfolio that complements HBNK.TO

Add HBNK.TO to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with HBNK.TO