Looking to diversify beyond HHIS.TO? The ETFs below have the lowest correlation with HHIS.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 HHIS.TO.
Best Diversifiers for HHIS.TO
28 ETFs have low correlation with HHIS.TO (below 0.3), 10 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve Canadian Utilities Enhanced Yield Index Fun... | -0.28 | — | — | 75 | Derivative Income | HHIS.TO vs UTES.TO | |
| BMO Covered Call Utilities ETF | -0.20 | — | — | 58 | Utilities Equities, Derivative Income | HHIS.TO vs ZWU.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.19 | — | — | 85 | Oil & Gas, Derivative Income | HHIS.TO vs ENCL.TO | |
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.19 | — | — | 85 | Derivative Income, Energy Equities | HHIS.TO vs ENCC.TO | |
| CI Energy Giants Covered Call ETF Common Units (CA... | -0.15 | — | — | 73 | Energy Equities, Derivative Income | HHIS.TO vs NXF.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HHIS.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HHIS.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of -0.21, down from -0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | -0.21 | -0.06 | -0.06 | 81 | Energy | |
| Canadian Natural Resources Limited | -0.11 | 0.07 | 0.07 | 86 | Energy | |
| Sprott Physical Gold Trust | 0.13 | 0.02 | 0.02 | 73 | Financial Services | |
| Aecon Group Inc. | 0.29 | — | — | 95 | Industrials | |
| The Bank of Nova Scotia | 0.32 | — | — | 96 | Financial Services |
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Build a portfolio that complements HHIS.TO
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Analyze a portfolio with HHIS.TO