Looking to balance out your exposure to BDT.TO? The ETFs below have the lowest correlation with BDT.TO — they tend to move on their own, which can help reduce risk when BDT.TO drops. The stock ideas table highlights individual companies that behave independently from BDT.TO.
Best Diversifiers for BDT.TO
4 ETFs have low correlation with BDT.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Evolve Canadian Banks and Lifecos Enhanced Yield Index Fund (BANK.TO) (Derivative Income) with a 1Y correlation of 0.28, roughly unchanged from 0.33 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve Canadian Banks and Lifecos Enhanced Yield I... | 0.28 | 0.33 | — | 98 | Derivative Income | BDT.TO vs BANK.TO | |
| Hamilton Enhanced Canadian Bank ETF | 0.29 | 0.33 | 0.39 | 98 | Financials Equities, Canada Equities, Leveraged Equities | BDT.TO vs HCAL.TO | |
| Global X Equal Weight Banks Index ETF | 0.29 | 0.33 | — | 98 | Financials Equities, Equal Weight | BDT.TO vs HBNK.TO | |
| Horizons NASDAQ-100 Index ETF | 0.29 | 0.32 | 0.35 | 58 | Nasdaq-100 | BDT.TO vs HXQ.TO | |
| RBC Canadian Bank Yield Index ETF | 0.30 | 0.34 | 0.38 | 97 | Financials Equities | BDT.TO vs RBNK.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BDT.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BDT.TO and solid risk/return profiles. The least correlated is Restaurant Brands International Inc. (QSR.TO) (Consumer Cyclical) with a 1Y correlation of -0.02, down from 0.18 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Restaurant Brands International Inc. | -0.02 | 0.13 | 0.18 | 64 | Consumer Cyclical | |
| Granite Real Estate Investment Trust | 0.07 | 0.19 | 0.25 | 92 | Real Estate | |
| Secure Energy Services Inc. | 0.12 | 0.19 | 0.23 | 81 | Industrials | |
| Canadian National Railway Company | 0.14 | 0.18 | 0.24 | 85 | Industrials | |
| Whitecap Resources Inc. | 0.14 | 0.17 | 0.20 | 93 | Energy |
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