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
0 ETFs have low correlation with HPS-A.TO (below 0.3), 0 of which are negatively correlated.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Semiconductor Index ETF | 0.35 | — | — | 97 | Semiconductors, Technology Equities | HPS-A.TO vs XCHP.TO |
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 Power Corporation of Canada (POW.TO) (Financial Services) with a 1Y correlation of -0.04, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Power Corporation of Canada | -0.04 | 0.06 | 0.11 | 94 | Financial Services | |
| Allied Gold Corporation | 0.06 | — | — | 81 | Basic Materials | |
| Whitecap Resources Inc. | 0.09 | 0.20 | 0.18 | 97 | Energy | |
| Dundee Precious Metals Inc. | 0.12 | 0.11 | 0.10 | 89 | Basic Materials | |
| Aritzia Inc. | 0.13 | 0.17 | 0.15 | 94 | Consumer Cyclical |
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