Looking to diversify beyond HEWB.TO? The ETFs below have historically moved differently from HEWB.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 HEWB.TO
8 ETFs have low correlation with HEWB.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 -0.20, down from 0.24 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 | -0.20 | 0.09 | 0.24 | 89 | Energy Equities, Canada Equities | HEWB.TO vs XEG.TO | |
| Global X 0-3 Month T-Bill ETF | -0.03 | 0.00 | — | 99 | Canadian Government Bonds | HEWB.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | 0.01 | 0.02 | — | 100 | Money Market | HEWB.TO vs CASH.TO | |
| Global X Cash Maximizer Corporate Class ETF | 0.04 | 0.03 | 0.05 | 65 | Money Market | HEWB.TO vs HSAV.TO | |
| Brompton Canadian Cash Flow Kings ETF | 0.10 | — | — | 97 | Canada Equities | HEWB.TO vs KNGC.TO |
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