Looking to balance out your exposure to CSH-UN.TO? The ETFs below have the lowest correlation with CSH-UN.TO — they tend to move on their own, which can help reduce risk when CSH-UN.TO drops. The stock ideas table highlights individual companies that behave independently from CSH-UN.TO.
Best Diversifiers for CSH-UN.TO
5 ETFs have low correlation with CSH-UN.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Global X Artificial Intelligence Semiconductor Index ETF (CHPS.TO) (Semiconductors) with a 1Y correlation of 0.08, down from 0.21 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Global X Artificial Intelligence Semiconductor Ind... | 0.08 | 0.13 | 0.21 | 94 | Semiconductors, Technology Equities | CSH-UN.TO vs CHPS.TO | |
| Vanguard S&P 500 Index ETF | 0.14 | 0.22 | 0.27 | 74 | S&P 500 | CSH-UN.TO vs VFV.TO | |
| BMO S&P 500 Index ETF | 0.15 | 0.23 | 0.28 | 72 | S&P 500 | CSH-UN.TO vs ZSP.TO | |
| iShares Core Equity ETF Portfolio | 0.21 | 0.30 | 0.36 | 75 | Global Equities | CSH-UN.TO vs XEQT.TO | |
| Fidelity Canadian Value ETF | 0.25 | 0.32 | 0.35 | 90 | Canada Equities | CSH-UN.TO vs FCCV.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CSH-UN.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CSH-UN.TO and solid risk/return profiles. The least correlated is Peyto Exploration & Development Corp. (PEY.TO) (Energy) with a 1Y correlation of 0.03, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Peyto Exploration & Development Corp. | 0.03 | 0.08 | 0.12 | 77 | Energy | |
| Brookfield Infrastructure Partners L.P | 0.06 | 0.24 | 0.25 | 76 | Utilities | |
| Keyera Corp. | 0.07 | 0.12 | 0.17 | 82 | Energy | |
| Power Corporation of Canada | 0.08 | 0.17 | 0.25 | 94 | Financial Services | |
| The Bank of Nova Scotia | 0.09 | 0.25 | 0.30 | 96 | Financial Services |
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