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
3 ETFs have low correlation with HCA.TO (below 0.3), 0 of which are negatively correlated. The least correlated is iShares Floating Rate Index ETF (XFR.TO) (Canadian Government Bonds) with a 1Y correlation of 0.01, roughly unchanged from 0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Floating Rate Index ETF | 0.01 | 0.04 | 0.02 | 98 | Canadian Government Bonds | HCA.TO vs XFR.TO | |
| Hamilton Enhanced Utilities ETF | 0.02 | 0.38 | — | 94 | Utilities Equities | HCA.TO vs HUTS.TO | |
| Global X Inovestor Canadian Equity Index ETF | 0.13 | 0.35 | 0.39 | 60 | Canada Equities | HCA.TO vs INOC.TO | |
| iShares S&P/TSX SmallCap Index ETF | 0.30 | 0.42 | 0.48 | 56 | Canada Equities | HCA.TO vs XCS.TO | |
| Global X Canadian High Dividend Index Corporate Cl... | 0.34 | 0.52 | 0.53 | 98 | Canada Equities | HCA.TO vs HXH.TO |
See all 60 diversifiers for HCA.TO
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