Looking to diversify beyond CLF.TO? The ETFs below have the lowest correlation with CLF.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 CLF.TO.
Best Diversifiers for CLF.TO
18 ETFs have low correlation with CLF.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares S&P/TSX Composite High Dividend Index ETF (XEI.TO) (Canada Equities) with a 1Y correlation of -0.01, roughly unchanged from 0.08 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Composite High Dividend Index ETF | -0.01 | 0.14 | 0.08 | 98 | Canada Equities | CLF.TO vs XEI.TO | |
| Global X 0-3 Month T-Bill ETF | 0.04 | 0.10 | — | 99 | Canadian Government Bonds | CLF.TO vs CBIL.TO | |
| iShares Floating Rate Index ETF | 0.05 | 0.02 | 0.02 | 98 | Canadian Government Bonds | CLF.TO vs XFR.TO | |
| TD Cash Management ETF | 0.10 | — | — | 99 | Canadian Government Bonds | CLF.TO vs TCSH.TO | |
| iShares Core MSCI Canadian Quality Dividend Index ... | 0.12 | 0.17 | 0.10 | 98 | Dividend, Large Cap Value Equities | CLF.TO vs XDIV.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CLF.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CLF.TO and solid risk/return profiles. The least correlated is Sprott Physical Gold Trust (PHYS.TO) (Financial Services) with a 1Y correlation of 0.19, roughly unchanged from 0.29 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Sprott Physical Gold Trust | 0.19 | 0.21 | 0.29 | 74 | Financial Services |
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