Looking to diversify beyond HURA.TO? The ETFs below have the lowest correlation with HURA.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 HURA.TO.
Best Diversifiers for HURA.TO
9 ETFs have low correlation with HURA.TO (below 0.3), 7 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.05, roughly unchanged from 0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.05 | 0.04 | — | 100 | Money Market | HURA.TO vs CASH.TO | |
| Global X Cash Maximizer Corporate Class ETF | -0.05 | 0.00 | 0.00 | 66 | Bank Loan | HURA.TO vs HSAV.TO | |
| Purpose Cash Management Fund | -0.04 | 0.01 | — | 100 | Money Market | HURA.TO vs MNY.TO | |
| Ninepoint Energy ETF | -0.02 | 0.17 | 0.31 | 79 | Energy Equities | HURA.TO vs NNRG.NEO | |
| Global X Equal Weight Canadian Oil & Gas Index ETF | -0.01 | — | — | 89 | Commodity Producers Equities | HURA.TO vs NRGY.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HURA.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HURA.TO and solid risk/return profiles. The least correlated is AGF Management Ltd (AGF-B.TO) (Financial Services) with a 1Y correlation of 0.27, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| AGF Management Ltd | 0.27 | 0.27 | 0.29 | 76 | Financial Services | |
| Cameco Corporation | 0.85 | 0.82 | 0.81 | 84 | Energy |
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