Looking to diversify beyond HXH.TO? The ETFs below have historically moved differently from HXH.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 HXH.TO
37 ETFs have low correlation with HXH.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 -0.03, roughly unchanged from 0.02 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.03 | 0.02 | — | 100 | Money Market | HXH.TO vs CASH.TO | |
| Global X Cash Maximizer Corporate Class ETF | -0.00 | 0.03 | 0.01 | 63 | Money Market | HXH.TO vs HSAV.TO | |
| Global X 0-3 Month T-Bill ETF | 0.01 | 0.03 | — | 99 | Canadian Government Bonds | HXH.TO vs CBIL.TO | |
| Global X Enhanced NASDAQ-100 Covered Call ETF | 0.01 | — | — | 54 | Nasdaq-100, Derivative Income | HXH.TO vs QQCL.TO | |
| Global X NASDAQ-100 Covered Call ETF | 0.01 | 0.11 | 0.20 | 53 | Nasdaq-100, Derivative Income | HXH.TO vs QQCC.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for HXH.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is SmartCentres Real Estate Investment Trust (SRU-UN.TO) (Real Estate) with a 1Y correlation of 0.30, roughly unchanged from 0.40 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| SmartCentres Real Estate Investment Trust | 0.30 | 0.35 | 0.40 | 92 | Real Estate |
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