Looking to diversify beyond HEB.TO? The ETFs below have historically moved differently from HEB.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 HEB.TO
3 ETFs have low correlation with HEB.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Hamilton Enhanced Utilities ETF (HUTS.TO) (Utilities Equities) with a 1Y correlation of -0.03, down from 0.30 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Enhanced Utilities ETF | -0.03 | 0.30 | — | 90 | Utilities Equities | HEB.TO vs HUTS.TO | |
| Hamilton U.S. T-Bill YIELD MAXIMIZER ETF USD Unhed... | 0.10 | — | — | 71 | Government Bonds, Derivative Income | HEB.TO vs HBIL-U.TO | |
| Hamilton Healthcare Yield Maximizer ETF | 0.18 | — | — | 51 | Health & Biotech Equities | HEB.TO vs LMAX.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.40 | 0.55 | — | 98 | Canada Equities | HEB.TO vs XEI.TO | |
| Global X S&P/TSX Capped Financials Index Corporate... | 0.43 | 0.43 | — | 97 | Financials Equities | HEB.TO vs HXF.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HEB.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is National Bank of Canada (NA.TO) (Financial Services) with a 1Y correlation of 0.79, up from 0.65 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| National Bank of Canada | 0.79 | 0.65 | 0.65 | 98 | Financial Services |
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