Looking to diversify beyond HLIT.TO? The ETFs below have the lowest correlation with HLIT.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 HLIT.TO.
Best Diversifiers for HLIT.TO
9 ETFs have low correlation with HLIT.TO (below 0.3), 3 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 -0.09, down from 0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Cash Maximizer Corporate Class ETF | -0.09 | 0.04 | — | 66 | Bank Loan | HLIT.TO vs HSAV.TO | |
| Global X 0-3 Month T-Bill ETF | -0.07 | -0.01 | -0.01 | 99 | Canadian Government Bonds | HLIT.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | -0.04 | 0.03 | — | 100 | Money Market | HLIT.TO vs CASH.TO | |
| Global X Equal Weight Canadian Oil & Gas Index ETF | 0.02 | — | — | 89 | Commodity Producers Equities | HLIT.TO vs NRGY.TO | |
| Global X Enhanced S&P 500 Covered Call ETF | 0.24 | — | — | 75 | Derivative Income, S&P 500 | HLIT.TO vs USCL.TO |
See all 13 diversifiers for HLIT.TO
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