Looking to diversify beyond CWW.TO? The ETFs below have the lowest correlation with CWW.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 CWW.TO.
Best Diversifiers for CWW.TO
3 ETFs have low correlation with CWW.TO (below 0.3), 1 of which are negatively correlated. The least correlated is iShares S&P/TSX Capped Energy Index ETF (XEG.TO) (Energy Equities) with a 1Y correlation of -0.16, down from 0.06 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares S&P/TSX Capped Energy Index ETF | -0.16 | 0.00 | 0.06 | 88 | Energy Equities, Canada Equities | CWW.TO vs XEG.TO | |
| iShares S&P/TSX Composite High Dividend Index ETF | 0.25 | 0.39 | 0.42 | 98 | Canada Equities | CWW.TO vs XEI.TO | |
| iShares S&P/TSX Capped Utilities Index ETF | 0.27 | 0.39 | 0.42 | 82 | Utilities Equities | CWW.TO vs XUT.TO | |
| iShares S&P/TSX Global Base Metals Index ETF | 0.30 | 0.27 | 0.32 | 62 | Energy Equities | CWW.TO vs XBM.TO | |
| Vanguard FTSE Canadian High Dividend Yield Index E... | 0.31 | 0.41 | 0.42 | 99 | Dividend | CWW.TO vs VDY.TO |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from CWW.TO, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to CWW.TO and solid risk/return profiles. The least correlated is Enbridge Inc. (ENB.TO) (Energy) with a 1Y correlation of 0.08, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Enbridge Inc. | 0.08 | 0.19 | 0.22 | 92 | Energy | |
| Sprott Physical Silver Trust | 0.16 | 0.12 | 0.12 | 68 | Basic Materials | |
| Sprott Physical Gold Trust | 0.20 | 0.11 | 0.07 | 67 | Financial Services |
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