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
10 ETFs have low correlation with HND.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.12, roughly unchanged from -0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.12 | -0.02 | — | 100 | Money Market | HND.TO vs CASH.TO | |
| Global X 0-3 Month T-Bill ETF | 0.03 | -0.01 | — | 99 | Canadian Government Bonds | HND.TO vs CBIL.TO | |
| Global X Cash Maximizer Corporate Class ETF | 0.06 | 0.05 | 0.06 | 67 | Money Market | HND.TO vs HSAV.TO | |
| Global X S&P/TSX 60 Index Corporate Class ETF | 0.15 | 0.04 | -0.06 | 92 | Canada Equities | HND.TO vs HXT.TO | |
| Global X Equal Weight Banks Index ETF | 0.15 | 0.06 | — | 98 | Financials Equities, Equal Weight | HND.TO vs HBNK.TO |
See all 10 diversifiers for HND.TO
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