Looking to diversify beyond CHPS.TO? The ETFs below have historically moved differently from CHPS.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 CHPS.TO
36 ETFs have low correlation with CHPS.TO (below 0.3), 13 of which are negatively correlated. The least correlated is BetaPro Inverse Bitcoin ETF (BITI.TO) (Leveraged Cryptocurrency) with a 1Y correlation of -0.40, roughly unchanged from -0.38 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BetaPro Inverse Bitcoin ETF | -0.40 | -0.30 | -0.38 | 54 | Leveraged Cryptocurrency | CHPS.TO vs BITI.TO | |
| Hamilton Enhanced Utilities ETF | -0.19 | 0.04 | — | 90 | Utilities Equities | CHPS.TO vs HUTS.TO | |
| Global X Equal Weight Canadian Pipelines Index ETF | -0.14 | 0.08 | 0.22 | 91 | Energy Equities, Equal Weight | CHPS.TO vs PPLN.TO | |
| Global X Enhanced Canadian Oil and Gas Equity Cove... | -0.08 | — | — | 92 | Energy Equities, Derivative Income | CHPS.TO vs ENCL.TO | |
| Global X 0-3 Month U.S. T-Bill ETF USD | -0.08 | -0.07 | — | 100 | Ultrashort Bond | CHPS.TO vs UBIL-U.TO |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CHPS.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 Loblaw Companies Limited (L.TO) (Consumer Defensive) with a 1Y correlation of -0.24, down from 0.00 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Loblaw Companies Limited | -0.24 | -0.03 | 0.00 | 69 | Consumer Defensive | |
| Enbridge Inc. | -0.17 | -0.03 | 0.08 | 87 | Energy | |
| Canadian Natural Resources Limited | -0.07 | 0.12 | 0.18 | 88 | Energy | |
| Chartwell Retirement Residences | 0.05 | 0.11 | 0.19 | 84 | Real Estate | |
| Canadian Pacific Railway Limited | 0.10 | 0.25 | 0.29 | 75 | Industrials |
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