Looking to diversify beyond CGL.TO? The ETFs below have the lowest correlation with CGL.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.TO.
Best Diversifiers for CGL.TO
76 ETFs have low correlation with CGL.TO (below 0.3), 6 of which are negatively correlated. The least correlated is Purpose High Interest Savings Fund (PSA.TO) (Money Market) with a 1Y correlation of -0.07, roughly unchanged from -0.02 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Purpose High Interest Savings Fund | -0.07 | -0.02 | -0.02 | 100 | Money Market | CGL.TO vs PSA.TO | |
| iShares Floating Rate Index ETF | -0.05 | -0.01 | -0.01 | 98 | Canadian Government Bonds | CGL.TO vs XFR.TO | |
| Global X High Interest Savings ETF | -0.04 | -0.04 | -0.03 | 100 | Money Market | CGL.TO vs CASH.TO | |
| iShares Premium Money Market ETF | -0.02 | -0.05 | -0.04 | 99 | Money Market | CGL.TO vs CMR.TO | |
| Global X 0-3 Month T-Bill ETF | -0.02 | 0.03 | 0.03 | 99 | Canadian Government Bonds | CGL.TO vs CBIL.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CGL.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CGL.TO and solid risk/return profiles. The least correlated is Loblaw Companies Limited (L.TO) (Consumer Defensive) with a 1Y correlation of -0.04, roughly unchanged from -0.01 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Loblaw Companies Limited | -0.04 | -0.02 | -0.01 | 59 | Consumer Defensive | |
| Canadian Natural Resources Limited | 0.00 | 0.10 | 0.11 | 88 | Energy | |
| Enbridge Inc. | 0.00 | 0.07 | 0.10 | 85 | Energy | |
| Fortis Inc. | 0.04 | 0.10 | 0.13 | 82 | Utilities | |
| TC Energy Corporation | 0.07 | 0.10 | 0.10 | 91 | Energy |
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Build a portfolio that complements CGL.TO
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