Looking to diversify beyond CGL-C.TO? The ETFs below have the lowest correlation with CGL-C.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 CGL-C.TO.
Best Diversifiers for CGL-C.TO
58 ETFs have low correlation with CGL-C.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 -0.04, roughly unchanged from -0.02 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X High Interest Savings ETF | -0.04 | -0.02 | — | 100 | Money Market | CGL-C.TO vs CASH.TO | |
| iShares Floating Rate Index ETF | -0.04 | 0.01 | 0.02 | 98 | Canadian Government Bonds | CGL-C.TO vs XFR.TO | |
| Global X Cash Maximizer Corporate Class ETF | -0.03 | -0.05 | -0.02 | 66 | Bank Loan | CGL-C.TO vs HSAV.TO | |
| iShares Premium Money Market ETF | -0.01 | -0.08 | -0.02 | 99 | Money Market | CGL-C.TO vs CMR.TO | |
| TD Active Preferred Share ETF | -0.00 | 0.01 | -0.01 | 96 | Preferred Stock/Convertible Bonds | CGL-C.TO vs TPRF.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CGL-C.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CGL-C.TO and solid risk/return profiles. The least correlated is RioCan Real Estate Investment Trust (REI-UN.TO) (Real Estate) with a 1Y correlation of -0.03, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| RioCan Real Estate Investment Trust | -0.03 | -0.00 | -0.02 | 91 | Real Estate | |
| Enbridge Inc. | 0.03 | 0.05 | 0.01 | 81 | Energy | |
| Brookfield Corporation | 0.04 | 0.05 | -0.02 | 55 | Financial Services | |
| Canadian Natural Resources Limited | 0.05 | 0.08 | 0.01 | 86 | Energy | |
| Royal Bank of Canada | 0.08 | -0.01 | -0.07 | 97 | Financial Services |
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