Looking to balance out your exposure to CTC-A.TO? The ETFs below have historically moved differently from CTC-A.TO, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for CTC-A.TO
4 ETFs have low correlation with CTC-A.TO (below 0.3), 0 of which are negatively correlated. The least correlated is BMO S&P 500 Index ETF (ZSP.TO) (S&P 500) with a 1Y correlation of 0.24, roughly unchanged from 0.34 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| BMO S&P 500 Index ETF | 0.24 | 0.22 | 0.34 | 69 | S&P 500 | CTC-A.TO vs ZSP.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.26 | 0.35 | 0.40 | 99 | Dividend | CTC-A.TO vs VDY.TO | |
| iShares Core S&P/TSX Capped Composite Index ETF | 0.27 | 0.37 | 0.44 | 90 | Canada Equities | CTC-A.TO vs XIC.TO | |
| iShares S&P/TSX 60 Index ETF | 0.28 | 0.37 | 0.44 | 93 | Canada Equities | CTC-A.TO vs XIU.TO |
Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for CTC-A.TO, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Canadian Natural Resources Limited (CNQ.TO) (Energy) with a 1Y correlation of -0.21, down from 0.09 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Canadian Natural Resources Limited | -0.21 | 0.01 | 0.09 | 88 | Energy | |
| Tamarack Valley Energy Ltd. | -0.16 | 0.04 | 0.10 | 98 | Energy | |
| Emera Incorporated | -0.08 | 0.04 | 0.08 | 93 | Utilities | |
| Pembina Pipeline Corporation | -0.05 | 0.09 | 0.16 | 89 | Energy | |
| Pembina Pipeline Corporation | -0.02 | 0.02 | 0.04 | 88 | Energy |
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