Looking to diversify beyond HCA.TO? The ETFs below have historically moved differently from HCA.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 HCA.TO
10 ETFs have low correlation with HCA.TO (below 0.3), 2 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 -0.15, down from 0.27 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.15 | 0.11 | 0.27 | 89 | Energy Equities, Canada Equities | HCA.TO vs XEG.TO | |
| Hamilton Enhanced Utilities ETF | -0.00 | 0.35 | — | 90 | Utilities Equities | HCA.TO vs HUTS.TO | |
| iShares Floating Rate Index ETF | 0.07 | 0.05 | 0.03 | 98 | Canadian Government Bonds | HCA.TO vs XFR.TO | |
| Global X Inovestor Canadian Equity Index ETF | 0.10 | 0.33 | 0.37 | 79 | Canada Equities | HCA.TO vs INOC.TO | |
| Brompton Canadian Cash Flow Kings ETF | 0.11 | — | — | 97 | Canada Equities | HCA.TO vs KNGC.TO |
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