Looking to balance out your exposure to CNR.TO? The ETFs below have the lowest correlation with CNR.TO — they tend to move on their own, which can help reduce risk when CNR.TO drops. The stock ideas table highlights individual companies that behave independently from CNR.TO.
Best Diversifiers for CNR.TO
11 ETFs have low correlation with CNR.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Evolve US High Interest Savings Account Fund (HISU-U.TO) (Money Market) with a 1Y correlation of -0.12, roughly unchanged from -0.15 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Evolve US High Interest Savings Account Fund | -0.12 | -0.15 | — | 99 | Money Market | CNR.TO vs HISU-U.TO | |
| iShares S&P/TSX Capped Energy Index ETF | 0.02 | 0.20 | 0.21 | 89 | Energy Equities | CNR.TO vs XEG.TO | |
| iShares S&P/TSX Energy Transition Materials Index ... | 0.12 | 0.08 | 0.08 | 87 | Materials | CNR.TO vs XETM.TO | |
| BMO Equal Weight Global Gold Index ETF | 0.15 | 0.10 | 0.11 | 52 | Gold | CNR.TO vs ZGD.TO | |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.15 | 0.27 | 0.37 | 67 | Nasdaq-100 | CNR.TO vs XQQ.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CNR.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CNR.TO and solid risk/return profiles. The least correlated is Whitecap Resources Inc. (WCP.TO) (Energy) with a 1Y correlation of -0.09, down from 0.14 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Whitecap Resources Inc. | -0.09 | 0.12 | 0.14 | 97 | Energy | |
| Suncor Energy Inc. | 0.02 | 0.17 | 0.18 | 96 | Energy | |
| Canadian Natural Resources Limited | 0.05 | 0.21 | 0.23 | 88 | Energy | |
| South Bow Corp | 0.06 | — | — | 91 | Energy | |
| Power Corporation of Canada | 0.07 | 0.15 | 0.22 | 94 | Financial Services |
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