Looking to balance out your exposure to CSW-B.TO? The ETFs below have the lowest correlation with CSW-B.TO — they tend to move on their own, which can help reduce risk when CSW-B.TO drops. The stock ideas table highlights individual companies that behave independently from CSW-B.TO.
Best Diversifiers for CSW-B.TO
2 ETFs have low correlation with CSW-B.TO (below 0.3), 0 of which are negatively correlated. The least correlated is Hamilton Canadian Financials Yield Maximizer ETF (HMAX.TO) (Derivative Income) with a 1Y correlation of 0.17, roughly unchanged from 0.17 over 3 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Hamilton Canadian Financials Yield Maximizer ETF | 0.17 | 0.17 | — | 94 | Derivative Income | CSW-B.TO vs HMAX.TO | |
| iShares Canadian Financial Monthly Income ETF | 0.19 | 0.17 | 0.15 | 87 | Canada Equities | CSW-B.TO vs FIE.TO |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CSW-B.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CSW-B.TO and solid risk/return profiles. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) 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 | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.01 | 0.05 | 0.08 | 86 | Energy | |
| Gibson Energy Inc. | 0.04 | 0.12 | 0.12 | 81 | Energy | |
| Pembina Pipeline Corporation | 0.06 | 0.08 | 0.10 | 85 | Energy | |
| TC Energy Corporation | 0.13 | 0.14 | 0.11 | 92 | Energy | |
| Enbridge Inc. | 0.16 | 0.14 | 0.12 | 85 | Energy |
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