Looking to balance out your exposure to HWX.TO? The ETFs below have the lowest correlation with HWX.TO — they tend to move on their own, which can help reduce risk when HWX.TO drops. The stock ideas table highlights individual companies that behave independently from HWX.TO.
No Diversifiers Found for HWX.TO
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HWX.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HWX.TO and solid risk/return profiles. The least correlated is Peyto Exploration & Development Corp. (PEY.TO) (Energy) with a 1Y correlation of 0.55, roughly unchanged from 0.60 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Peyto Exploration & Development Corp. | 0.55 | 0.61 | 0.60 | 79 | Energy | |
| Athabasca Oil Corporation | 0.65 | 0.66 | 0.64 | 94 | Energy | |
| Cardinal Energy Ltd. | 0.73 | 0.74 | 0.70 | 96 | Energy | |
| Whitecap Resources Inc. | 0.73 | 0.74 | 0.74 | 97 | Energy | |
| Tamarack Valley Energy Ltd. | 0.78 | 0.77 | 0.77 | 99 | Energy |
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