Looking to diversify beyond HDIF.TO? The ETFs below have the lowest correlation with HDIF.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 HDIF.TO.
Best Diversifiers for HDIF.TO
15 ETFs have low correlation with HDIF.TO (below 0.3), 5 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.07 | — | — | 85 | Oil & Gas, Derivative Income | HDIF.TO vs ENCL.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.07 | 0.24 | — | 85 | Derivative Income, Energy Equities | HDIF.TO vs ENCC.TO | |
| CI Energy Giants Covered Call ETF Common Units (CA... | -0.06 | 0.21 | — | 73 | Energy Equities, Derivative Income | HDIF.TO vs NXF.TO | |
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.03 | — | — | 75 | Derivative Income | HDIF.TO vs UTES.TO | |
| Hamilton Energy YIELD MAXIMIZER ETF | -0.02 | — | — | 70 | Energy Equities, Derivative Income | HDIF.TO vs EMAX.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HDIF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HDIF.TO and solid risk/return profiles. The least correlated is Freehold Royalties Ltd. (FRU.TO) (Energy) with a 1Y correlation of 0.00, down from 0.18 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Freehold Royalties Ltd. | 0.00 | 0.18 | — | 93 | Energy |
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