Looking to diversify beyond CBIL.TO? The ETFs below have the lowest correlation with CBIL.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 CBIL.TO.
Best Diversifiers for CBIL.TO
132 ETFs have low correlation with CBIL.TO (below 0.3), 36 of which are negatively correlated. The least correlated is Vanguard FTSE Developed ex North America High Dividend Yield Index ETF (VIDY.TO) (Foreign Large Cap Equities) with a 1Y correlation of -0.07, roughly unchanged from 0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Vanguard FTSE Developed ex North America High Divi... | -0.07 | 0.02 | — | 85 | Foreign Large Cap Equities, Dividend | CBIL.TO vs VIDY.TO | |
| Global X Inovestor Canadian Equity Index ETF | -0.07 | -0.01 | — | 68 | Canada Equities | CBIL.TO vs INOC.TO | |
| Global X Active Preferred Share ETF | -0.05 | 0.00 | — | 97 | Preferred Stock/Convertible Bonds | CBIL.TO vs HPR.TO | |
| TD Active Preferred Share ETF | -0.05 | 0.00 | — | 97 | Preferred Stock/Convertible Bonds | CBIL.TO vs TPRF.TO | |
| Global X Enhanced Equal Weight Canadian Banks Cove... | -0.04 | 0.00 | — | 97 | Financials Equities, Derivative Income | CBIL.TO vs BKCL.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CBIL.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CBIL.TO and solid risk/return profiles. The least correlated is The Bank of Nova Scotia (BNS.TO) (Financial Services) with a 1Y correlation of -0.08, down from 0.03 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| The Bank of Nova Scotia | -0.08 | 0.03 | — | 98 | Financial Services | |
| Dividend 15 Split Corp. | -0.06 | 0.03 | 0.01 | 98 | Financial Services | |
| Whitecap Resources Inc. | -0.04 | -0.02 | -0.02 | 93 | Energy | |
| Cenovus Energy Inc. | -0.00 | 0.02 | 0.01 | 94 | Energy | |
| Canadian Natural Resources Limited | 0.01 | 0.01 | 0.01 | 83 | Energy |
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