Looking to diversify beyond CIF.TO? The ETFs below have the lowest correlation with CIF.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 CIF.TO.
Best Diversifiers for CIF.TO
20 ETFs have low correlation with CIF.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares Floating Rate Index ETF (XFR.TO) (Canadian Government Bonds) with a 1Y correlation of -0.00, roughly unchanged from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Floating Rate Index ETF | -0.00 | 0.00 | 0.03 | 98 | Canadian Government Bonds | CIF.TO vs XFR.TO | |
| Evolve Canadian Utilities Enhanced Yield Index Fun... | 0.04 | 0.16 | 0.16 | 88 | Derivative Income | CIF.TO vs UTES.TO | |
| BMO Ultra Short-Term Bond ETF | 0.09 | 0.11 | 0.10 | 51 | Canadian Government Bonds, Ultrashort Bond | CIF.TO vs ZST.TO | |
| Global X S&P/TSX Capped Energy Index Corporate Cla... | 0.09 | 0.28 | 0.34 | 59 | Energy Equities | CIF.TO vs HXE.TO | |
| Ninepoint Energy ETF | 0.12 | 0.30 | 0.37 | 60 | Energy Equities | CIF.TO vs NNRG.NEO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CIF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CIF.TO and solid risk/return profiles. The least correlated is Hydro One Limited (H.TO) (Utilities) with a 1Y correlation of -0.09, down from 0.24 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Hydro One Limited | -0.09 | 0.19 | 0.24 | 82 | Utilities | |
| Loblaw Companies Limited | -0.04 | 0.10 | 0.13 | 64 | Consumer Defensive | |
| Canadian Natural Resources Limited | 0.07 | 0.27 | 0.34 | 75 | Energy | |
| Enbridge Inc. | 0.13 | 0.34 | 0.43 | 89 | Energy | |
| Power Corporation of Canada | 0.14 | 0.21 | 0.30 | 95 | Financial Services |
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