Looking to balance out your exposure to CCO.TO? The ETFs below have the lowest correlation with CCO.TO — they tend to move on their own, which can help reduce risk when CCO.TO drops. The stock ideas table highlights individual companies that behave independently from CCO.TO.
Best Diversifiers for CCO.TO
13 ETFs have low correlation with CCO.TO (below 0.3), 5 of which are negatively correlated. The least correlated is Global X Equal Weight Canadian Pipelines Index ETF (PPLN.TO) (Energy Equities) with a 1Y correlation of -0.12, down from 0.26 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Equal Weight Canadian Pipelines Index ETF | -0.12 | 0.15 | 0.26 | 88 | Energy Equities, Equal Weight | CCO.TO vs PPLN.TO | |
| Evolve US High Interest Savings Account Fund | -0.04 | 0.01 | — | 100 | Money Market | CCO.TO vs HISU-U.TO | |
| Global X High Interest Savings ETF | -0.03 | -0.01 | — | 99 | Money Market | CCO.TO vs CASH.TO | |
| BMO Equal Weight Oil & Gas Index ETF | -0.02 | 0.22 | 0.32 | 82 | Energy Equities, Equal Weight | CCO.TO vs ZEO.TO | |
| BMO Money Market Fund ETF Series | -0.02 | -0.03 | — | 99 | Money Market | CCO.TO vs ZMMK.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CCO.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CCO.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of -0.18, down from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | -0.18 | -0.04 | -0.03 | 93 | Utilities | |
| Loblaw Companies Limited | -0.09 | 0.01 | 0.02 | 67 | Consumer Defensive | |
| Keyera Corp. | -0.08 | 0.13 | 0.24 | 84 | Energy | |
| Enbridge Inc. | -0.08 | 0.08 | 0.19 | 91 | Energy | |
| Pembina Pipeline Corporation | -0.05 | 0.16 | 0.26 | 85 | Energy |
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