Looking to diversify beyond HCA.TO? The ETFs below have the lowest correlation with HCA.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 HCA.TO.
Best Diversifiers for HCA.TO
2 ETFs have low correlation with HCA.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Hamilton Enhanced Utilities ETF (HUTS.TO) (Utilities Equities) with a 1Y correlation of 0.04, down from 0.37 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Enhanced Utilities ETF | 0.04 | 0.37 | — | 92 | Utilities Equities | HCA.TO vs HUTS.TO | |
| PIMCO Monthly Income Fund (Canada) | 0.22 | 0.21 | 0.17 | 52 | HCA.TO vs PMIF.TO | ||
| iShares S&P/TSX SmallCap Index ETF | 0.32 | 0.43 | 0.48 | 79 | Canada Equities | HCA.TO vs XCS.TO | |
| Global X Canadian High Dividend Index Corporate Cl... | 0.35 | 0.52 | 0.53 | 98 | Canada Equities | HCA.TO vs HXH.TO | |
| CI Morningstar Canada Value Index ETF | 0.36 | 0.48 | 0.54 | 95 | Canada Equities | HCA.TO vs FXM.TO |
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