Looking to balance out your exposure to HR-UN.TO? The ETFs below have the lowest correlation with HR-UN.TO — they tend to move on their own, which can help reduce risk when HR-UN.TO drops. The stock ideas table highlights individual companies that behave independently from HR-UN.TO.
Best Diversifiers for HR-UN.TO
0 ETFs have low correlation with HR-UN.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 0.31, roughly unchanged from 0.34 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 Index ETF | 0.31 | 0.28 | 0.34 | 79 | S&P 500 | HR-UN.TO vs VFV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HR-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HR-UN.TO and solid risk/return profiles. The least correlated is Tourmaline Oil Corp. (TOU.TO) (Energy) with a 1Y correlation of -0.06, down from 0.15 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Tourmaline Oil Corp. | -0.06 | 0.09 | 0.15 | 57 | Energy | |
| Rogers Communications Inc | 0.15 | 0.26 | 0.24 | 58 | Communication Services | |
| Aritzia Inc. | 0.29 | 0.21 | 0.25 | 92 | Consumer Cyclical | |
| Granite Real Estate Investment Trust | 0.38 | 0.52 | 0.54 | 91 | Real Estate | |
| SmartCentres Real Estate Investment Trust | 0.62 | 0.66 | 0.70 | 93 | Real Estate |
Build a portfolio that complements HR-UN.TO
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