Looking to balance out your exposure to HMM-A.TO? The ETFs below have the lowest correlation with HMM-A.TO — they tend to move on their own, which can help reduce risk when HMM-A.TO drops. The stock ideas table highlights individual companies that behave independently from HMM-A.TO.
Best Diversifiers for HMM-A.TO
1 ETFs have low correlation with HMM-A.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Vanguard S&P 500 Index ETF (VFV.TO) (S&P 500) with a 1Y correlation of 0.10, roughly unchanged from 0.13 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.10 | 0.15 | 0.13 | 78 | S&P 500 | HMM-A.TO vs VFV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HMM-A.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HMM-A.TO and solid risk/return profiles. The least correlated is Finning International Inc. (FTT.TO) (Industrials) with a 1Y correlation of 0.04, roughly unchanged from 0.10 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Finning International Inc. | 0.04 | 0.14 | 0.10 | 95 | Industrials | |
| MDA Space Ltd. | 0.08 | 0.11 | 0.10 | 76 | Industrials |
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