Looking to diversify beyond HFR.TO? The ETFs below have historically moved differently from HFR.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 HFR.TO
29 ETFs have low correlation with HFR.TO (below 0.3), 6 of which are negatively correlated. The least correlated is CI Alternative Investment Grade Credit Fund (CRED.TO) (Investment Grade Bonds) with a 1Y correlation of -0.06, roughly unchanged from 0.02 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| CI Alternative Investment Grade Credit Fund | -0.06 | -0.01 | 0.02 | 53 | Investment Grade Bonds, Long-Short, Nontraditional Bonds, Actively Managed | HFR.TO vs CRED.TO | |
| CI High Interest Savings ETF | -0.04 | 0.03 | 0.02 | 99 | Money Market | HFR.TO vs CSAV.TO | |
| BMO Money Market Fund ETF Series | -0.02 | 0.02 | — | 99 | Money Market | HFR.TO vs ZMMK.TO | |
| PIMCO Global Short Maturity Fund (Canada) | -0.02 | -0.01 | 0.04 | 83 | Ultrashort Bond, Global Bonds, Investment Grade Bonds, Actively Managed | HFR.TO vs PMNT.TO | |
| Global X 0-3 Month T-Bill ETF | -0.01 | 0.11 | — | 99 | Canadian Government Bonds | HFR.TO vs CBIL.TO |
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