Looking to diversify beyond HUG.TO? The ETFs below have the lowest correlation with HUG.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 HUG.TO.
Best Diversifiers for HUG.TO
11 ETFs have low correlation with HUG.TO (below 0.3), 2 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.04, 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 | -0.04 | -0.02 | — | 100 | Money Market | HUG.TO vs CASH.TO | |
| Global X Cash Maximizer Corporate Class ETF | -0.03 | -0.01 | -0.03 | 66 | Bank Loan | HUG.TO vs HSAV.TO | |
| Global X 0-3 Month T-Bill ETF | 0.01 | 0.02 | — | 99 | Canadian Government Bonds | HUG.TO vs CBIL.TO | |
| Global X Enhanced S&P 500 Covered Call ETF | 0.02 | -0.03 | -0.03 | 75 | Derivative Income, S&P 500 | HUG.TO vs USCL.TO | |
| Global X NASDAQ-100 Covered Call ETF | 0.06 | -0.03 | 0.01 | 82 | Nasdaq-100, Derivative Income | HUG.TO vs QQCC.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HUG.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HUG.TO and solid risk/return profiles. The least correlated is Sprott Physical Gold Trust (PHYS.TO) (Financial Services) with a 1Y correlation of 0.95, up from 0.80 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Sprott Physical Gold Trust | 0.95 | 0.87 | 0.80 | 73 | Financial Services |
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