Looking to balance out your exposure to BLX.TO? The ETFs below have the lowest correlation with BLX.TO — they tend to move on their own, which can help reduce risk when BLX.TO drops. The stock ideas table highlights individual companies that behave independently from BLX.TO.
No Diversifiers Found for BLX.TO
We do not have enough correlation history to rank diversifiers for this symbol yet.
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BLX.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BLX.TO and solid risk/return profiles. The least correlated is Hydro One Limited (H.TO) (Utilities) with a 1Y correlation of -0.05, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hydro One Limited | -0.05 | 0.18 | 0.21 | 70 | Utilities | |
| Fortis Inc. | -0.01 | 0.19 | 0.19 | 79 | Utilities | |
| ATCO Ltd | 0.15 | 0.25 | 0.20 | 92 | Utilities | |
| Northland Power Inc. | 0.46 | 0.57 | 0.59 | 54 | Utilities |
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