Looking to diversify beyond CVD.TO? The ETFs below have the lowest correlation with CVD.TO — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from CVD.TO.
Best Diversifiers for CVD.TO
16 ETFs have low correlation with CVD.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares Canadian HYBrid Corporate Bond Index ETF (XHB.TO) (Corporate Bonds) with a 1Y correlation of -0.03, roughly unchanged from 0.05 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares Canadian HYBrid Corporate Bond Index ETF | -0.03 | 0.08 | 0.05 | 51 | Corporate Bonds | CVD.TO vs XHB.TO | |
| TD Global Technology Leaders Index ETF | 0.01 | 0.16 | 0.16 | 58 | Technology Equities | CVD.TO vs TEC.TO | |
| iShares Core S&P 500 Index ETF | 0.03 | 0.15 | 0.17 | 73 | S&P 500 | CVD.TO vs XUS.TO | |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.04 | 0.16 | 0.17 | 66 | Nasdaq-100 | CVD.TO vs XQQ.TO | |
| iShares Core S&P 500 Index ETF (CAD-Hedged) | 0.05 | 0.15 | 0.18 | 61 | S&P 500 | CVD.TO vs XSP.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CVD.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CVD.TO and solid risk/return profiles. The least correlated is Loblaw Companies Limited (L.TO) (Consumer Defensive) with a 1Y correlation of -0.12, down from 0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Loblaw Companies Limited | -0.12 | 0.03 | 0.03 | 54 | Consumer Defensive | |
| Celestica Inc. | -0.07 | 0.03 | 0.09 | 94 | Technology | |
| Aritzia Inc. | -0.05 | 0.05 | 0.11 | 94 | Consumer Cyclical | |
| Cameco Corporation | -0.01 | 0.04 | 0.07 | 84 | Energy | |
| Lundin Gold Inc. | 0.03 | 0.01 | 0.05 | 58 | Basic Materials |
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