Looking to diversify beyond CBIL.TO? The ETFs below have historically moved differently from CBIL.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for CBIL.TO
130 ETFs have low correlation with CBIL.TO (below 0.3), 41 of which are negatively correlated.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X USD High Interest Savings ETF | -0.11 | — | — | 100 | Money Market | CBIL.TO vs UCSH-U.TO | |
| Vanguard FTSE Developed ex North America High Divi... | -0.09 | 0.00 | — | 91 | Foreign Large Cap Equities, Dividend | CBIL.TO vs VIDY.TO | |
| TD Active Preferred Share ETF | -0.07 | -0.01 | — | 97 | Preferred Stock | CBIL.TO vs TPRF.TO | |
| Global X Enhanced Equal Weight Canadian Banks Cove... | -0.05 | 0.00 | — | 97 | Financials Equities, Derivative Income | CBIL.TO vs BKCL.TO | |
| Global X Active Preferred Share ETF | -0.05 | -0.00 | — | 97 | Preferred Stock | CBIL.TO vs HPR.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CBIL.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is The Bank of Nova Scotia (BNS.TO) (Financial Services) with a 1Y correlation of -0.08, down from 0.02 over 3 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Bank of Nova Scotia | -0.08 | 0.02 | — | 98 | Financial Services | |
| Dividend 15 Split Corp. | -0.05 | 0.02 | — | 98 | Financial Services | |
| Royal Bank of Canada | -0.02 | 0.02 | 0.01 | 99 | Financial Services | |
| Whitecap Resources Inc. | -0.02 | -0.02 | -0.02 | 93 | Energy | |
| Cenovus Energy Inc. | 0.00 | 0.01 | 0.01 | 95 | Energy |
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