Looking to diversify beyond HXEM.TO? The ETFs below have historically moved differently from HXEM.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for HXEM.TO
4 ETFs have low correlation with HXEM.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X 0-3 Month T-Bill ETF (CBIL.TO) (Canadian Government Bonds) with a 1Y correlation of -0.03, roughly unchanged from 0.01 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X 0-3 Month T-Bill ETF | -0.03 | 0.00 | 0.01 | 99 | Canadian Government Bonds | HXEM.TO vs CBIL.TO | |
| Global X High Interest Savings ETF | 0.01 | -0.01 | 0.01 | 100 | Money Market | HXEM.TO vs CASH.TO | |
| Global X Cash Maximizer Corporate Class ETF | 0.07 | 0.02 | 0.02 | 58 | Money Market | HXEM.TO vs HSAV.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.25 | 0.35 | 0.36 | 99 | Dividend | HXEM.TO vs VDY.TO | |
| Global X Equal Weight Banks Index ETF | 0.37 | 0.37 | — | 98 | Financials Equities, Equal Weight | HXEM.TO vs HBNK.TO |
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