Looking to balance out your exposure to CRT-UN.TO? The ETFs below have the lowest correlation with CRT-UN.TO — they tend to move on their own, which can help reduce risk when CRT-UN.TO drops. The stock ideas table highlights individual companies that behave independently from CRT-UN.TO.
Best Diversifiers for CRT-UN.TO
12 ETFs have low correlation with CRT-UN.TO (below 0.3), 1 of which are negatively correlated. The least correlated is Global X Canadian Oil and Gas Equity Covered Call ETF (ENCC.TO) (Derivative Income) with a 1Y correlation of -0.07, down from 0.19 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Canadian Oil and Gas Equity Covered Call ... | -0.07 | 0.16 | 0.19 | 89 | Derivative Income, Energy Equities | CRT-UN.TO vs ENCC.TO | |
| BMO Money Market Fund ETF Series | 0.09 | 0.04 | 0.00 | 100 | Money Market | CRT-UN.TO vs ZMMK.TO | |
| JPMorgan Nasdaq Equity Premium Income Active ETF | 0.10 | 0.12 | 0.12 | 80 | Nasdaq-100, Derivative Income | CRT-UN.TO vs JEPQ.TO | |
| Vanguard S&P 500 Index ETF | 0.14 | 0.20 | 0.30 | 78 | S&P 500 | CRT-UN.TO vs VFV.TO | |
| BMO US Dividend ETF (CAD) | 0.18 | 0.25 | 0.32 | 74 | Dividend, Large Cap Blend Equities | CRT-UN.TO vs ZDY.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CRT-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CRT-UN.TO and solid risk/return profiles. The least correlated is Fortis Inc. (FTS.TO) (Utilities) with a 1Y correlation of 0.21, roughly unchanged from 0.28 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Fortis Inc. | 0.21 | 0.32 | 0.28 | 82 | Utilities | |
| The Toronto-Dominion Bank | 0.25 | 0.32 | 0.34 | 98 | Financial Services | |
| Canadian Imperial Bank of Commerce | 0.29 | 0.35 | 0.38 | 97 | Financial Services | |
| National Bank of Canada | 0.35 | 0.34 | 0.40 | 96 | Financial Services | |
| Chartwell Retirement Residences | 0.38 | 0.40 | 0.45 | 66 | Real Estate |
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