Don't underestimate the umbrella while day hiking - I sometimes carry one, a basic little $7 compact model, and even though I wear waterproof breathable tops, the umbrella keeps me dry while walking and when stopped. Works fantastic on hot and sunny hikes too. And don't forget its also a magnet for lightning if you face that where you are. I love the rain, but don't see a need to stand around soaked in it if you can help it otherwise.

On overnight hikes with a destination and a stop, I tend to carry a trusty Kelty 9x9 tarp for a nice wide cooking and standing around area. There are lighter silnylon tarps that might save you some ounces, but I lost 90 lbs 2 years ago and counting ounces in my pack just doesn't matter much anymore.

Hunting is another matter - might be hard to juggle a brolly and a rifle. I don't hunt anymore.