Looking to diversify beyond HXX.TO? The ETFs below have the lowest correlation with HXX.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 HXX.TO.
Best Diversifiers for HXX.TO
3 ETFs have low correlation with HXX.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 -0.05, roughly unchanged from -0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.05 | -0.03 | — | 99 | Money Market | HXX.TO vs CASH.TO | |
| Global X 0-3 Month T-Bill ETF | 0.02 | 0.01 | — | 99 | Canadian Government Bonds | HXX.TO vs CBIL.TO | |
| Global X Cash Maximizer Corporate Class ETF | 0.15 | 0.07 | 0.04 | 69 | Money Market | HXX.TO vs HSAV.TO | |
| Global X Equal Weight Banks Index ETF | 0.51 | 0.47 | 0.47 | 98 | Financials Equities, Equal Weight | HXX.TO vs HBNK.TO | |
| Global X S&P/TSX 60 Index Corporate Class ETF | 0.52 | 0.52 | 0.55 | 89 | Canada Equities | HXX.TO vs HXT.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from HXX.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to HXX.TO and solid risk/return profiles. The least correlated is Sun Life Financial Inc. (SLF.TO) (Financial Services) with a 1Y correlation of 0.21, down from 0.40 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Sun Life Financial Inc. | 0.21 | 0.34 | 0.40 | 80 | Financial Services |
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