Looking to diversify beyond HND.TO? The ETFs below have the lowest correlation with HND.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 HND.TO.
Best Diversifiers for HND.TO
2 ETFs have low correlation with HND.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X S&P/TSX 60 Index Corporate Class ETF (HXT.TO) (Canada Equities) with a 1Y correlation of 0.15, up from -0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X S&P/TSX 60 Index Corporate Class ETF | 0.15 | 0.04 | -0.05 | 89 | Canada Equities | HND.TO vs HXT.TO | |
| Global X S&P 500 Index Corporate Class ETF | 0.24 | 0.03 | -0.03 | 76 | S&P 500 | HND.TO vs HXS.TO |
Diversification Analysis
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