Looking to diversify beyond BND.TO? The ETFs below have the lowest correlation with BND.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 BND.TO.
Best Diversifiers for BND.TO
59 ETFs have low correlation with BND.TO (below 0.3), 5 of which are negatively correlated. The least correlated is Global X High Interest Savings ETF (CASH.TO) (Money Market) with a 1Y correlation of -0.12, roughly unchanged from -0.04 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.12 | -0.04 | — | 100 | Money Market | BND.TO vs CASH.TO | |
| CI Auspice Broad Commodity Fund ETF Hedged Units | -0.10 | 0.00 | — | 70 | Commodities | BND.TO vs CCOM.TO | |
| BMO Money Market Fund ETF Series | -0.08 | -0.02 | — | 100 | Money Market | BND.TO vs ZMMK.TO | |
| iShares Premium Money Market ETF | -0.08 | -0.06 | -0.06 | 99 | Money Market | BND.TO vs CMR.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | -0.00 | 0.15 | 0.19 | 98 | Dividend, Large Cap Value Equities | BND.TO vs XDIV.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BND.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BND.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.09, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.09 | -0.02 | 0.03 | 86 | Energy | |
| Enbridge Inc. | 0.01 | 0.11 | 0.13 | 81 | Energy | |
| Dividend 15 Split Corp. | 0.15 | 0.18 | 0.17 | 96 | Financial Services | |
| The Toronto-Dominion Bank | 0.21 | 0.14 | 0.16 | 98 | Financial Services |
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