Looking to diversify beyond HXDM.TO? The ETFs below have the lowest correlation with HXDM.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 HXDM.TO.
Best Diversifiers for HXDM.TO
6 ETFs have low correlation with HXDM.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.01, 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 | -0.01 | 0.02 | — | 100 | Money Market | HXDM.TO vs CASH.TO | |
| Global X 0-3 Month T-Bill ETF | 0.00 | 0.02 | — | 99 | Canadian Government Bonds | HXDM.TO vs CBIL.TO | |
| Global X Cash Maximizer Corporate Class ETF | 0.16 | 0.07 | 0.06 | 70 | Money Market | HXDM.TO vs HSAV.TO | |
| Global X Laddered Canadian Preferred Share Index C... | 0.17 | 0.18 | 0.23 | 97 | Preferred Stock/Convertible Bonds | HXDM.TO vs HLPR.TO | |
| Mackenzie International Equity Index ETF (CAD-Hedg... | 0.24 | 0.31 | 0.28 | 82 | International Equity | HXDM.TO vs QDXH.TO |
See all 39 diversifiers for HXDM.TO
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