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Hammond Power Solutions Inc (HPS-A.TO) Diversifiers

Equity · Currency in CAD · Last updated Jul 22, 2026

Hammond Power Solutions Inc. designs, manufactures, and sells a wide range of transformers and related products, including buck-boost, control, distribution, drive isolation, encapsulated, furnace, multi-pulse, pad mounted, regulating transformers, active harmonic filters, autotransformers, dV/dT filters, reactors, medium voltage distribution, unitized substations, and DC power supplies. The company serves industries such as renewable energy, commercial infrastructure, industrial, off-shore drilling, mining and construction, petro-chemical, power grid infrastructure, and EV charging.

Looking to balance out your exposure to HPS-A.TO? The ETFs below have the lowest correlation with HPS-A.TO — they tend to move on their own, which can help reduce risk when HPS-A.TO drops. The stock ideas table highlights individual companies that behave independently from HPS-A.TO.

Best Diversifiers for HPS-A.TO

1 ETFs have low correlation with HPS-A.TO (below 0.3), 0 of which are negatively correlated. The least correlated is RBC Canadian Bank Yield Index ETF (RBNK.TO) (Financials Equities) with a 1Y correlation of 0.22, roughly unchanged from 0.25 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
RBNK.TO
RBC Canadian Bank Yield Index ETF0.220.270.25
97
Financials EquitiesHPS-A.TO vs RBNK.TO
XCHP.TO
iShares Semiconductor Index ETF0.41——
93
Semiconductors, Technology EquitiesHPS-A.TO vs XCHP.TO

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from HPS-A.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HPS-A.TO and solid risk/return profiles. The least correlated is Emera Incorporated (EMA.TO) (Utilities) with a 1Y correlation of -0.30, down from -0.05 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
EMA.TO
Emera Incorporated-0.30-0.10-0.05
90
Utilities
POW.TO
Power Corporation of Canada0.020.080.12
97
Financial Services
CNQ.TO
Canadian Natural Resources Limited0.030.180.16
88
Energy
WCP.TO
Whitecap Resources Inc.0.080.210.18
94
Energy
AAUC.TO
Allied Gold Corporation0.14——
78
Basic Materials
See all 14 low-correlation stocks for HPS-A.TO

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Diversification Analysis

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