Looking to diversify beyond HGY.TO? The ETFs below have the lowest correlation with HGY.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 HGY.TO.
Best Diversifiers for HGY.TO
14 ETFs have low correlation with HGY.TO (below 0.3), 4 of which are negatively correlated. The least correlated is Global X Cash Maximizer Corporate Class ETF (HSAV.TO) (Bank Loan) with a 1Y correlation of -0.05, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Cash Maximizer Corporate Class ETF | -0.05 | -0.05 | -0.03 | 66 | Bank Loan | HGY.TO vs HSAV.TO | |
| Global X High Interest Savings ETF | -0.02 | -0.03 | — | 100 | Money Market | HGY.TO vs CASH.TO | |
| iShares S&P/TSX Capped Energy Index ETF | -0.00 | 0.12 | 0.14 | 86 | Energy Equities | HGY.TO vs XEG.TO | |
| Global X 0-3 Month T-Bill ETF | -0.00 | 0.01 | 0.02 | 99 | Canadian Government Bonds | HGY.TO vs CBIL.TO | |
| Global X Enhanced S&P 500 Covered Call ETF | 0.05 | -0.03 | -0.03 | 75 | Derivative Income, S&P 500 | HGY.TO vs USCL.TO |
See all 15 diversifiers for HGY.TO
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