Looking to balance out your exposure to BTE.TO? The ETFs below have the lowest correlation with BTE.TO — they tend to move on their own, which can help reduce risk when BTE.TO drops. The stock ideas table highlights individual companies that behave independently from BTE.TO.
Best Diversifiers for BTE.TO
1 ETFs have low correlation with BTE.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares Core Equity ETF Portfolio (XEQT.TO) (Global Equities) with a 1Y correlation of -0.07, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Core Equity ETF Portfolio | -0.07 | 0.14 | 0.22 | 75 | Global Equities | BTE.TO vs XEQT.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from BTE.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BTE.TO and solid risk/return profiles. The least correlated is MDA Space Ltd. (MDA.TO) (Industrials) with a 1Y correlation of -0.03, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| MDA Space Ltd. | -0.03 | 0.10 | 0.11 | 75 | Industrials | |
| NexGen Energy Ltd. | 0.01 | 0.17 | 0.29 | 80 | Energy | |
| Extendicare Inc. | 0.02 | 0.06 | 0.13 | 97 | Healthcare | |
| Peyto Exploration & Development Corp. | 0.52 | 0.60 | 0.61 | 77 | Energy | |
| Tamarack Valley Energy Ltd. | 0.65 | 0.74 | 0.77 | 99 | Energy |
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